Edmonton housing prices slip

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Edmonton housing prices slip
Bill Mah, edmontonjournal.com
6 U: E/ [, S4 E9 n( RPublished: 1:42 pm
4 Z  [/ s. I+ ?/ FEDMONTON - 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.
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"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.

. N8 Q8 c- K, b$ j9 k9 \"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."

/ z, M5 f1 |* x) K/ gThe average price of a condo in April - $256,947 - also dropped by 2.3 per cent from last month.

7 Z& d4 U1 x. w: c2 UDuplexes and townhouses sold last month bucked the trend, selling for 2.3 per cent higher than last month, at average price of $316,065.

( w/ G6 V* m1 u2 U( jApril 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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: Z) B8 F% Y$ ^& _9 VThe 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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# B5 c! l) j6 O5 s& a5 p5 S& R: A/ j© Edmonton Journal 2008

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