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Edmonton, May 5, 2008: The REALTORS® Association of Edmonton reported that the average price for single family homes dropped less than half a percent after three months of small increases. April sales of all types of residential property through the Multiple Listing Service® were lower than the two previous years at 1,823 units but higher than the more typical years of 2004 and 2005.+ G) V6 S7 M) X Q$ w
/ J& b! Z; E; d# T“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. “In this market, with a very high inventory, pricing is a key component of a successful sale.” While the typical sale is completed at 97% 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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) N+ D+ n- O3 ASingle family dwellings sold on average* for $386,033 in April just 0.4% down from the previous month. SFD prices are still 6.6% lower than April 2007. Condos sold on average for $256,947, a decrease of 2.3% from last month. On the other hand, duplexes and rowhouses sold during April were priced 2.3% higher at $316,065 on average. Overall, the average price for all types of residential property was down 2% at $336,931 when compared to March and down just 2.1% from a year ago.
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0 V; C- y+ h/ J& M' x$ g6 V$ }There are 10,606 residential properties currently available on the MLS® (up 12% from last month’s record inventory). The average days on market was just 52 days; up one from March. There were 4,471 residential listings during the month and the sales to listing ratio is a low 41%. Total residential sales were $1.99 billion and total MLS® sales were $2.3 billion.
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“It is hard to draw comparisons to last year,” said Perras. “Prices were still going up at this time last year and inventories were about one quarter what they are now. It’s a much different market in 2008.” He encouraged all buyers and sellers to consult with their REALTORS® for the best advice on current market trends and conditions.
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Highlights of MLS® activity
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5 { Z' s% t" ~6 l3 wApril 2008 activity Record for
2 R! a3 P1 t5 }. Gthe month* % change from
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Total MLSsales this month 2,047 -25.80%
" V# n8 }0 I; I$ B" {' WValue of total MLSsales – month $699 million -28.80% ) D/ U& T! ^$ ?, D9 V. F5 M2 Q- k
Value of total MLSsales – year $2.27 billion -27.50%
4 J; u, _! S- {3 U3 s! wResidential¹ sales this month 1,823 -25.30% 9 i1 I, O* K5 K ]/ u; }, t }
Residential average price $336,931 -2.10% ' r* d( Q- y/ x9 b! r$ s8 H
SFD² average selling price – month $386,033 -6.60%
7 j& E% Z1 d+ Y! I1 Z9 zSFD median³ selling price $372,500 -6.60% 6 I4 h) P! P. R1 H. a% r7 [
Condo average selling price $256,947 -1.60% |
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发表于 2008-5-5 21:16
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发表于 2008-5-6 09:37
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