Edmonton housing prices slip

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Edmonton housing prices slip
Bill Mah, edmontonjournal.com
Published: 1:42 pm
  u$ r8 ~9 y1 K, s( C6 t4 ?/ g8 YEDMONTON - 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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6 @: V3 o1 B* N3 C, N4 DDetached 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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7 Q9 N; [( ^' ^/ `7 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.

- i6 j4 [. L3 B: m- y! 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."

% A0 q0 ?- h6 CThe average price of a condo in April - $256,947 - also dropped by 2.3 per cent from last month.

# i- j/ L2 P* v5 YDuplexes and townhouses sold last month bucked the trend, selling for 2.3 per cent higher than last month, at average price of $316,065.
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; X- J& J, T+ u6 `9 O! JApril sales of all types of homes through the Multiple Listing Service was 1,823 transactions - down about 25 per cent from the same month last year. But April sales were still higher than the more typical years of 2004 and 2005, the association said.
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* P4 ~5 x& `/ }, B. y( `; ~" ZThe days a residential listing stayed on the market in April was 52, more than double the same month last year when it was 22.
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( A$ g  \, V/ y( a- x1 }bmah@thejournal.canwest.com

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© Edmonton Journal 2008

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