Edmonton housing prices slip

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Edmonton housing prices slip
Bill Mah, edmontonjournal.com
/ {" P( J% _4 }- `) O4 P% i. PPublished: 1:42 pm
EDMONTON - 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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Detached 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 $27,455 - from April 2007 when the housing market was still simmering.
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# b% x1 P, _/ R* x8 F- N0 Z5 K! T7 E"The Edmonton housing market is stable, and buyers and sellers seem to be coming to a realistic view of housing prices," said Marc Perras, president of the Realtors Association of Edmonton.
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"While the typical sale is completed at 97 per cent of the asking price, many sellers have had to reduce their price to find the level that would attract a buyer."
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" ?7 V/ X# I, E- O; g: M$ v& R. J/ {The average price of a condo in April - $256,947 - also dropped by 2.3 per cent from last month.
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) \% w% Q( B: k6 Z* t/ g. ]  u; ^Duplexes and townhouses sold last month bucked the trend, selling for 2.3 per cent higher than last month, at average price of $316,065.
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$ _6 t; \  z! QApril 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.
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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.
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" T1 M) {8 C8 P. ebmah@thejournal.canwest.com


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5 k# L. M8 ?; _/ h: f; ^© Edmonton Journal 2008

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