Rio Terrace Homes for Sale
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in the west end of Edmonton. The average selling price for a home in Rio Terrace, so far year to date in 2014 has been $454,547. That is a little lower than the average selling price in Rio Terrace last year where the average selling price was $488,171 in Rio Terrace. Rio Terrace's average selling price tends to be influenced by the number of homes sold on Rio Terrace Drive, the street that backs onto the North Saskatchewan River valley. The selling price average statistics are calculated by looking at what a single family detached home sold for in the neighbourhood, the other styles of homes like duplexes or condos are not included in these stats. In Rio Terrace, at the upper end of the market, the highest price that a home sold for so far in 2014 has been $569,900. That sale was for an 1185 square foot upgraded home. At the other end of the price range, the most affordable home in Rio Terrace sold for $350,000. That sale was for a home on a busier road into the neighbourhood. On average it is taking 23 days to sell a home in Rio Terrace, that is a few days faster than the overall Edmonton average time to sell in 2014 of 38 days. Since 2005, property values in the Rio Terrace neighbourhood have risen by 55%. Traditionally, Rio Terrace's property values have an average sold price that tends to be $50,000 to $100,000 higher than the overall Edmonton average selling price.