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“During COVID, homes were selling faster,” King adds. “On average, a single-family home was selling in 49 days — eight days faster than last summer.”
Two neighbourhoods have been particularly hot in the city: Bonnie Doon and Idylwylde.
Both in the city’s southeast, they ranked No. 1 and 2 out of 384 neighbourhoods in the Zolo survey.
Real estate agent Beverley Hasinoff with Liv Real Estate says it’s no surprise these communities are in demand. “Those are always top for Edmonton because of their close proximity to downtown, the River Valley, schools and other amenities.”
King notes Bonnie Doon is “a community that is still in transition from old to new.” Homes in this community range from post-war bungalows in need of updating — with prices that reflect this — to custom-built single-family homes commanding higher prices.
According to Zolo’s scorecard, the average price is about $454,000, an increase of 10 per cent over the last year.
“Buyers are attracted to this community because it’s central,” she says. “This picturesque neighbourhood draws families and first-time buyers.”
Idylwylde is also nearby and shares many similar characteristics.
“While Idylwylde’s average house price is lower than Bonnie Doon’s, it didn’t take the top spot since it’s a smidge further away from the action and doesn’t offer the immediate access to green space and nature that you find in Bonnie Doon,” King says.
The average home price is similar — about $454,000 — but Idylwylde saw a bigger one-year price jump at more than 15 per cent.