Edmonton housing prices slip

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Edmonton housing prices slip
Bill Mah, edmontonjournal.com
Published: 1:42 pm
' I; E2 s( c* N0 @* xEDMONTON - 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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- G4 Q- j7 [  p7 ?& D, j6 C+ qDetached 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.

) o9 p) y! c! P0 P+ J- c+ j"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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The average price of a condo in April - $256,947 - also dropped by 2.3 per cent from last month.

3 i% W, v# I5 b$ m& EDuplexes 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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4 ?# S+ c" O7 o3 ]2 m0 wApril 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.

. r3 K" ~" }5 D' \: 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.

" a2 _# |6 Y% D$ vbmah@thejournal.canwest.com
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© Edmonton Journal 2008

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