Edmonton housing prices slip

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Edmonton housing prices slip
' l/ O: A3 N- b$ tBill Mah, edmontonjournal.com
/ z+ y7 f- M5 z& qPublished: 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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+ Z7 u2 b; e) I8 P! Z/ `3 }% F: fDetached 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.

$ B2 b- r' O- A0 `6 t, L9 Y5 O/ ]"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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" i' r! f% |9 }$ _' V7 V% ~"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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/ n3 D  R  O, i4 y1 \The average price of a condo in April - $256,947 - also dropped by 2.3 per cent from last month.
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( r( b6 g1 O' F6 Q; u; Z; MDuplexes and townhouses sold last month bucked the trend, selling for 2.3 per cent higher than last month, at average price of $316,065.

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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4 z1 _  n/ _8 x/ Z- L; y9 DThe days a residential listing stayed on the market in April was 52, more than double the same month last year when it was 22.

7 A3 A  L9 A, v  m+ I& i+ Ibmah@thejournal.canwest.com
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& }6 B9 a& ~9 \# s0 D( I+ S8 o* \© Edmonton Journal 2008

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