Tom Shearer, past chair of the Realtors Association of Edmonton, said there were 2,200 total transactions last month, when there is typically around 1,000 transactions.
The average price of a single-family home hit a record high last month, coming in at $493,543 — a 12.7 per cent year-over-year increase.
Condominium sales in the greater Edmonton area saw a massive increase this February, with a 55.2 per cent sale increase from the year before.
In the last couple of months, he said some out-of-town buyers with extra equity in their home have decided to buy an investment property in Edmonton, which hasn’t happened in a long time.
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