Edmonton is on a steady path to economic recovery—report

Edmonton is on a steady path to economic recovery—report

Edmonton is on a steady path to economic recovery—report On the heels of Alberta’s progressively stable economic footing, the Edmonton market’s prospects can be expected “to remain upward trending for the foreseeable future,” according to a new report from real estate data firm The Network.

Total mid-2017 sales compared to mid-2016 suffered a modest 2 per cent decline, while “the 2017 sales distribution had 24% of the total number of transactions being land and the remaining 76% buildings,” the report explained. The total value of real estate transactions in the city swelled from nearly $866 million in mid-2016 to over $1.2 billion as of June 30, 2017.

Edmonton’s office and retail condos have proven especially popular. Total dollar volume for the office condo segment increased from $28 million in the middle of last year to over $30 million in mid-2017, while the retail condo sector saw a rise from $4.9 million to $5.4 million in the same time frame.

The office sector as a whole experienced massive growth over the past year, with the total transaction volume for office spaces of all types increasing from $44 million in mid-2016 to over $134 million in mid-2017.

The full report can be viewed here.


Related stories:
Economic recovery to power Alberta’s recreational property sales volume
Are Alberta markets rebounding?