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Edmonton housing prices slip
7 m3 Q6 T) V7 P# F) `Bill Mah, edmontonjournal.com/ s; z- @( A- Z* {
Published: 1:42 pm! {, y4 j0 B) y9 U, m# A
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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% |" G) O" G- r# a6 KDetached 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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( |* \( N# H% G6 i9 K0 f* N" T5 K"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.! }( Q4 D% [1 Z1 Y2 D
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"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.
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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 $316,065.
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5 ]* F) L( e# z5 H- e. LApril sales of all types of homes through the Multiple Listing Service was 1,823 transactions - down about 25 per cent from the same month last year. But April sales were still higher than the more typical years of 2004 and 2005, the association said.
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: b. Y2 ?1 q# t% H0 oThe days a residential listing stayed on the market in April was 52, more than double the same month last year when it was 22.
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: z& ~, k/ `# P1 Y; W" O ~bmah@thejournal.canwest.com6 c/ f: V# T1 d5 z* N( J- v
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$ _% t& }! a# f5 Y6 q' m© Edmonton Journal 2008 |
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