The City of Edmonton has released figures that single family homes have went up in value 9% from July 1, 2009 to July 1, 2010.  The truth is that the average sale price for a single family detached home went up 6%.  Here is the real increase based on sales data from the REALTORS® Association of Edmonton.

 Average Sale Price SFD in Edmonton:

• June 2009 $382,495
• June 2010 $406,050 = 6% increase

The City of Edmonton has also come out with figures showing condos have went up 6%.  Again here is the real DECREASE based on sales data from the REALTORS® Association of Edmonton.

 

Average Sale Price Condo in Edmonton:

• June 2009 $244,411
• June 2010 $238,858 = 2.3% DECREASE

Just to be clear, the City numbers are SFD 9% increase and Condo 6% increase. Real sales data numbers show SFD only a 6% increase and Condo a 2.3% decrease.  I read that the City could be using median sales data.  Well I did the Median value for SFD and Condos.

Median Sale Price SFD in Edmonton

• June 2009 $350,000
• June 2010 $357,000 = 2% increase

Median Sale Price Condos in Edmonton

• June 2009 $230,000
• June 2010 $227,500 =  1% DECREASE

Either way, the numbers don't correlate, fuzzy math I guess. 

 Here is the link to the story.