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Edmonton housing prices slip$ H6 i8 J: h6 y/ K7 V1 m
Bill Mah, edmontonjournal.com
2 J- V: L- p- S, X: {Published: 1:42 pm
; V( }# x! k. A8 L! _, ~4 EEDMONTON - 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 $27,455 - from April 2007 when the housing market was still simmering.$ D y; p/ d# [/ z9 L
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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.. q7 V" d+ g6 }4 n! ?5 Q
' V) C" l! a0 j8 x* u" b5 U) ^"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. & E, e, W9 L0 {2 j: K- V
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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 $316,065.% e9 w4 u" O; H( u
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April sales of all types of homes through the Multiple Listing Service was 1,823 transactions - down about 25 per cent from the same month last year. But April sales were still higher than the more typical years of 2004 and 2005, the association said.
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* g# R7 q8 v( r0 _# J6 WThe days a residential listing stayed on the market in April was 52, more than double the same month last year when it was 22.
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& ?, g6 V! Y" v' B0 s5 P7 Ubmah@thejournal.canwest.com/ q" o( v! V* U" _% ~
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) C" O$ ~/ p* f- I& o& z© Edmonton Journal 2008 |
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