Edmonton housing prices slip

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Edmonton housing prices slip
5 ]* I3 Z9 L0 @2 ?. ~Bill Mah, edmontonjournal.com
Published: 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.
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6 W% S* t+ I/ o! ]% vDetached 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.

. r! _0 A" M. U9 J: E8 L+ b"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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. L. a+ ?& W* C7 {+ @The average price of a condo in April - $256,947 - also dropped by 2.3 per cent from last month.

* S  I! q# p" I9 LDuplexes and townhouses sold last month bucked the trend, selling for 2.3 per cent higher than last month, at average price of $316,065.

- ~7 |  v# j* ^4 N. SApril 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.

0 ?7 {. j4 U# e  h1 C/ G( IThe 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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# D* r9 h2 t# v$ l/ wbmah@thejournal.canwest.com

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© Edmonton Journal 2008

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