Edmonton housing prices slip

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Edmonton housing prices slip
  ^5 m2 I  G! z& X" H! F' OBill Mah, edmontonjournal.com
+ S& L9 A! o$ nPublished: 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.
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! e. b+ m- r8 s& ~7 X( M"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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) N- d; ^9 [) T# Q/ l0 X2 M) HThe average price of a condo in April - $256,947 - also dropped by 2.3 per cent from last month.

8 N6 Y/ p$ `$ t' G/ w! I) M1 l* zDuplexes and townhouses sold last month bucked the trend, selling for 2.3 per cent higher than last month, at average price of $316,065.

/ e( ], l7 D7 W/ ^# w1 J2 N5 |& c; NApril 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.
  F$ D# ^# L$ z) F. Z
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.

5 w7 e0 G; f/ X, R/ T- }bmah@thejournal.canwest.com


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© Edmonton Journal 2008

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