Edmonton housing prices slip

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Edmonton housing prices slip
$ j1 ]# I" z% o, h( W; iBill Mah, edmontonjournal.com
" x* D8 Q8 M. k  }' v% O8 a: v/ bPublished: 1:42 pm
& O, l1 V! g8 {, ~' PEDMONTON - 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.

1 [! _. K# n$ u"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.

& T! S- M  Q  ?% }& X. 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."

, r1 p0 r# n4 h# e9 x: h& A1 [The average price of a condo in April - $256,947 - also dropped by 2.3 per cent from last month.
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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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+ D- L3 p0 e6 ^4 A' k  zApril 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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# s; h0 k  B& j' k" J5 J8 Y2 \: c3 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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bmah@thejournal.canwest.com

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& e9 i- r# t% y$ G; {2 ]9 d© Edmonton Journal 2008

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