Neighbourhoods of Edmonton's Best Schools

The Neighbourhoods of Edmonton's best schools tend to see their home values outperform the Edmonton average.  The average sale price of homes, days on market (the time it takes to sell) and how much the homes sell for versus their list price all tend to be higher in areas with these highly ranked schools.  This post will look at the real estate statistics of the areas around the #2 school in Edmonton based on the Fraser Institute rankings. By the way, this is not to say that these Provincial rankings are the only reason a school is considered good.  I know from personal experience that how your child performs in school has a multitude of other factors going into it.  For the Fraser Institute report where the rankings are visit Alberta School Rankings

The 2nd highest ranked school in Edmonton in the most recent Fraser Institute report is Stratford, following behind the number 1 ranked school Mount Pleasant.  Stratford is located in the west end neighbourhood of Jasper Park.   I had a look real estate statistics at not only Jasper Park, but the surrounding neighbourhoods and compared them to the Edmonton average.  Meadowlark Park, Sherwood, Lynnwood and Parkview all border Jasper Park.  I looked at sales of single family detached homes over the last 12 months (September 2012 to August 2013) to do some stats.

On an average sale price basis here are the numbers and ranking of the neighbourhoods.
Jasper Park $287,954
Meadowlark Park $396,310
Lynnwood $348,223
Sherwood $282,531
Parkview $604,297
Edmonton $411,186
The average sale price can be a little misleading, for a couple reasons.  First, it doesn't look at the average price per square foot see my other posts for stats on this at Edmonton selling price per square foot by neighbourhood. Secondly, some of these areas have a higher number of homes without basements, that can drag the average sale price down $30,000 or more.

On an average days on market basis for the last 12 months:
Jasper Park  47 days
Meadowlark Park 25 days
Lynnwood 41 days
Sherwood 99 days
Parkview 41 days
Edmonton 45 days
The average days on market is a good indicator of a neighbourhood's popularity, this is the average amount of time it takes to sell a home.  Obviously the lower this number is the more desirable the area is.  Meadowlark Park jumps out and is one of the fastest selling neighbourhoods in the city.  I think Meadowlark Park combines relatively affordable homes with decent 1200 square foot range homes.  The Sherwood and Jasper Park areas do have a lot of smaller homes that may not be as appealing to larger families wanting to attend Stratford.

On an average sold price to list price ratio for the last 12 months:
Jasper Park 96.94%
Meadowlark Park  98.04%
Lynnwood 96.89%
Sherwood  97.92%
Parkview 97.41%
Edmonton 97.5%
The sold to list price ratio, shows how much the buyer is able to negotiate off the list price.  The higher the sold to list price ratio the more desirable the area is.  This can be a little misleading statistic too.  The sold to list price ratio is normally lower in higher priced range areas where there are fewer buyers as a percentage in the overall market.  Meadowlark Park also jumps out here as a popular area where it is tougher for the buyers to negotiate much off the list price. 

If you are relocating and need some assistance in your home search please contact me at Neighbourhoods of Edmonton's Best Schools