Edmonton housing prices slip

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Edmonton housing prices slip
9 a" p6 q; q" [6 V0 e; hBill Mah, edmontonjournal.com
Published: 1:42 pm
; J6 l' v# K8 s0 w4 x0 H5 wEDMONTON - 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.

3 b' v% L7 ]2 u8 h0 o" ~"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."

7 e, {3 o* q: `5 ~7 V. kThe average price of a condo in April - $256,947 - also dropped by 2.3 per cent from last month.
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, r7 ^( \. W5 t; ]! ODuplexes and townhouses sold last month bucked the trend, selling for 2.3 per cent higher than last month, at average price of $316,065.

, s. s% [# T8 P3 p" f! }" k. KApril 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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: e# G, n) _5 \! M! G0 S0 pThe 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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! z- E4 @. R6 c0 p© Edmonton Journal 2008

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