Edmonton housing prices slip

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Edmonton housing prices slip
Bill Mah, edmontonjournal.com
Published: 1:42 pm
0 d; q3 y- m+ _9 d" N5 NEDMONTON - 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.
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6 u: T9 A& k4 I2 Z- q  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.

, _+ M0 N) E) R9 s) C( [' J; B"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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5 B; x( Q* i4 j& e% L) i1 gThe average price of a condo in April - $256,947 - also dropped by 2.3 per cent from last month.
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* T3 @6 ^3 Q+ g) L. X  K! RDuplexes and townhouses sold last month bucked the trend, selling for 2.3 per cent higher than last month, at average price of $316,065.

, s* G, x: J# ]) v* L0 f$ iApril 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 ]; k7 ?" X2 m( ^, X: s- _2 LThe 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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