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Edmonton housing prices slip
% `5 Y/ T$ ]1 n$ W+ zBill Mah, edmontonjournal.com
! }2 [$ {* Z+ f: l2 m) WPublished: 1:42 pm
9 h' d# F& @0 v1 k' |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.
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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./ g4 B" F! F) a% q5 J7 T# j
. y2 |% K( s q& \7 C) f"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.( E+ M1 f, g/ s# L0 h
( M0 N `" q" v ]+ I"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."& _5 @8 C; l8 [0 J4 O8 S
3 s a( J1 k/ I" V" IThe 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 $316,065.
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3 q5 e) v. v4 h$ n/ B ^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 22.0 g! y3 ~2 l- z3 U
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bmah@thejournal.canwest.com0 W: T6 s# ]0 Z' }. N
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7 F3 n4 N8 j8 {4 W© Edmonton Journal 2008 |
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