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Edmonton housing prices slip
0 J% q+ n7 k# b1 ?( _3 y: {$ lBill Mah, edmontonjournal.com
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/ v! j7 _" a3 l0 R. l) UEDMONTON - 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.; q2 ~8 F. \6 m/ I# x" s* L
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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 $27,455 - from April 2007 when the housing market was still simmering.; R3 u( K' \- [5 \1 _+ p7 h5 y. R
, ?7 \0 V9 _* f"The Edmonton housing market is stable, and buyers and sellers seem to be coming to a realistic view of housing prices," said Marc Perras, president of the Realtors Association of Edmonton.
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"While the typical sale is completed at 97 per cent of the asking price, many sellers have had to reduce their price to find the level that would attract a buyer."- G. n6 d% b$ Y4 ^% k" `. r* f7 t% d
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The average price of a condo in April - $256,947 - also dropped by 2.3 per cent from last month.
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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 $316,065.
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April sales of all types of homes through the Multiple Listing Service was 1,823 transactions - down about 25 per cent from the same month last year. But April sales were still higher than the more typical years of 2004 and 2005, the association said.
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The days a residential listing stayed on the market in April was 52, more than double the same month last year when it was 22.1 m9 S Z8 Q, r6 H; Y
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bmah@thejournal.canwest.com$ a {6 t7 m& b* o6 k4 |
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© Edmonton Journal 2008 |
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