Edmonton housing prices slip

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Edmonton housing prices slip
Bill Mah, edmontonjournal.com
Published: 1:42 pm
5 O, K4 x6 l% {3 M0 xEDMONTON - The average price of a single-family house in the Edmonton region dipped slightly in April, after three months of small increases, the Realtors Association of Edmonton said today.
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( m9 |1 D" n6 r* pDetached houses sold for an average of $386,033 last month, down 0.4 per cent from the previous month. Single family house prices are down 6.6 per cent - or $27,455 - from April 2007 when the housing market was still simmering.

3 H! v$ t' e3 V/ d' B. s( d" r7 v"The Edmonton housing market is stable, and buyers and sellers seem to be coming to a realistic view of housing prices," said Marc Perras, president of the Realtors Association of Edmonton.

- A) U3 Z1 x, z9 i* U5 W"While the typical sale is completed at 97 per cent of the asking price, many sellers have had to reduce their price to find the level that would attract a buyer."
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6 }! Z4 E. g- L1 G$ U% q0 lThe average price of a condo in April - $256,947 - also dropped by 2.3 per cent from last month.
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3 x7 y& r+ h/ @1 d* `9 ^# ~/ B- ^- {& }Duplexes and townhouses sold last month bucked the trend, selling for 2.3 per cent higher than last month, at average price of $316,065.
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April sales of all types of homes through the Multiple Listing Service was 1,823 transactions - down about 25 per cent from the same month last year. But April sales were still higher than the more typical years of 2004 and 2005, the association said.

7 L; P1 k" f( \The days a residential listing stayed on the market in April was 52, more than double the same month last year when it was 22.

bmah@thejournal.canwest.com
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© Edmonton Journal 2008

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