Edmonton housing prices slip

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Edmonton housing prices slip
( N4 D+ H/ z" u7 K( ^7 p& L- EBill Mah, edmontonjournal.com
3 o4 ~  u$ P* u* _Published: 1:42 pm
7 x/ Z  O8 Q! N$ VEDMONTON - 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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0 s' J# {1 e: e2 ]/ R3 x& r  |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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8 I7 w" y* ]4 a- t"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.

. @% ~' Y, z: K! ?3 e* ^5 X  z$ k# y"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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$ |, C# ]- n- A' E2 D* @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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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.
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The 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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