Edmonton housing prices slip

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Edmonton housing prices slip
/ f5 a7 W- S  h4 c+ NBill Mah, edmontonjournal.com
Published: 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.

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.

"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.

( i& Z& N1 P$ X"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."

0 n' V% v8 r5 b. G4 n* iThe average price of a condo in April - $256,947 - also dropped by 2.3 per cent from last month.

" E/ |- F1 Z5 m4 D& q( ]* [) ?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.

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.

7 k+ ?% N! J1 w  ^$ Q) m1 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.
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0 Q% W) |2 {. c) Nbmah@thejournal.canwest.com
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© Edmonton Journal 2008

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