Edmonton housing prices slip

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Edmonton housing prices slip
8 w4 G9 K. ~7 u7 EBill Mah, edmontonjournal.com
2 r: H2 n1 `& r8 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.

4 ?: u$ G4 W4 u$ 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.

( p4 k  g+ ?5 I"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.

2 f( R* c7 ?. X/ B/ A"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."

The average price of a condo in April - $256,947 - also dropped by 2.3 per cent from last month.

Duplexes and townhouses sold last month bucked the trend, selling for 2.3 per cent higher than last month, at average price of $316,065.
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" Z& O" E, N  a' q8 }$ p+ hApril 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.

bmah@thejournal.canwest.com
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© Edmonton Journal 2008

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