New data from the Realtors Association of Edmonton show local real estate prices changed little in November.
The association, which tracks all local properties sold through its Multiple Listing Service, found the average price of a residential sale grew by less than one per cent since October. Fifty-five commercial proper-ties sold; two fewer than in November 2010.
"Generally your home would have sold last month for about the same amount as it did last year," said Chris Mooney, president of REA. "I almost think that the market is reset-ting after the maelstrom that has occurred in the past five years."
The average sale price in 2011 so far is just over $321,000. In 2007, it sat at $326,000 for the same period before shrinking to $319,000 the following year.
Over 1,200 sales took place through the MLS in November, with a total value of $419 million. Almost $6 billion worth of revenue has passed through the system so far in 2011. The vast majority of real estate transactions in the Edmonton area take place through the MLS.