Edmonton housing prices slip

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Edmonton housing prices slip
Bill Mah, edmontonjournal.com
Published: 1:42 pm
/ c, ?& h+ e# Y' R1 ?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.

5 ], u2 P3 g7 S$ gDetached 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.

+ \# i3 d& k" \2 M3 w& z3 H"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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; {0 p" j) `" z$ Z1 \- rThe 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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6 G, A8 P. i# x4 {5 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.

1 G/ y  n8 K4 W2 o1 mThe 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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3 w9 D, W$ r: |4 S* P' V6 O* U" k$ l© Edmonton Journal 2008

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