Ritchie, Southeast Edmonton Neighborhood

Posted by Wally Fakhreddine on Friday, July 31st, 2020 at 4:08pm.

Edmonton Real Estate Market Update:

 

The Ritchie neighborhood is located in Southeast Edmonton, bounded by Whyte Avenue on the north, 72nd Avenue on the south, and on the east by the Mill Creek Ravine. 

Single family detached houses in Ritchie account for 52% of all residential dwellings in the neighborhood. The remainder of residences are made up of low to medium rise apartments, row housing and semi-detached homes. The population of Ritchie is highly mobile with 40% of dwellings being rented. Approximately one out of every 4 residences were built in Ritchie prior to the end of World War II.

Real Estate prices have been on a steady climb in Ritchie, reaching an average price of $436,100 in 2014 for a single family detached house.This is the first time in many years that Ritchie is approaching Edmonton's average sale price, showing the strength of the market in the area. This average does not included duplexes and condominiums. The average sold price for a duplex in the neighborhood has reached $462,380, where as a condominium is averaging a sale price of $307,315. There have been a number of newly built duplexes in Ritchie, which have brought up the average price.

 

The residents of Ritchie have great access to downtown Edmonton and the Mill Creek portion of the river valley park . In addition to the ravine, Ritchie features a series of parks that run along the central spine of the neighborhood in conjunction with school sites. The eastern portion of Whyte Avenue runs the northern length of the neighborhood providing its residents with good access to the University of Alberta.  Ritchie provides ease of access to many recreational and commercial amenities, as well as the majority of residents are within walking distance to the Old Strathcona Farmers market.

For any additional information on Real Estate in Ritchie, or any neighboring community, Give me a call today. Hall of Fame Remax Realtor Wally Fakhreddine Sells More Homes!

Aside from his many years of experience in real estate, Wally Fakhreddine is a Hall of Fame RE/MAX REALTOR® and in the top 5% of all Edmonton REALTORS®. Specializing in the Edmonton real estate market, he provides competent, professional and friendly service to all of his clients. Wally is eager to discuss Edmonton real estate market conditions, Edmonton homes for sale, Edmonton condos for sale, Edmonton duplexes, Edmonton town-houses new constructions, buyer brokerage or anything related to the Edmonton MLS. Contact Wally now at: 1.780.238.7384.

As a resident of Edmonton for over 30 years and expert Edmonton real estate agent, Wally is passionate about the city and will help both buyers and sellers with all the information or priorities they need to know about in order to make their home dreams a reality.

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