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Edmonton housing prices slip; O8 w* w$ K/ V
Bill Mah, edmontonjournal.com6 T4 F5 M1 n! I# ]
Published: 1:42 pm6 j6 I- i: B! ~4 R, f
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.$ v, l3 d, X$ C `% m& r
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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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"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.& ^" f+ s. R0 J) Q, L3 u1 c
1 q0 h3 t! p, \' t( V# N"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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The average price of a condo in April - $256,947 - also dropped by 2.3 per cent from last month. 1 [- R; j2 o4 P! H3 m, `2 h" A1 h
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Duplexes and townhouses sold last month bucked the trend, selling for 2.3 per cent higher than last month, at average price of $316,065.
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2 `3 v0 t8 n9 q* g3 i: SApril sales of all types of homes through the Multiple Listing Service was 1,823 transactions - down about 25 per cent from the same month last year. But April sales were still higher than the more typical years of 2004 and 2005, the association said.0 C1 }/ F" b/ A- [
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The days a residential listing stayed on the market in April was 52, more than double the same month last year when it was 22.1 o2 Y1 j2 V" K4 ~ V
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: x0 U$ v- I' @0 d9 r6 ^" l7 n© Edmonton Journal 2008 |
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