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
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