Edmonton housing prices slip

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Edmonton housing prices slip
/ g9 c7 S/ k$ Y; LBill Mah, edmontonjournal.com
  _6 ~$ W& Y$ k& o7 [3 vPublished: 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.
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9 N# M! ~% e& q0 }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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+ P* Z  n5 W4 a5 B  G"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.

6 N$ n5 x- h; z: \7 C"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."

& n" c- I8 {% `# q  i6 P4 zThe average price of a condo in April - $256,947 - also dropped by 2.3 per cent from last month.
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5 o+ `0 C  h6 B9 p& gDuplexes 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.

% H0 I; @9 D1 \* I& o% ?( E( wThe 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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3 J* T1 C+ \7 k/ x$ Ubmah@thejournal.canwest.com
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© Edmonton Journal 2008

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