Edmonton housing prices slip

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Edmonton housing prices slip
: ?7 H2 i% S" K* u* T  rBill 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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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.

7 F6 g' f$ o" g+ v. l6 w"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.

2 v& r6 @. v* 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."

8 x0 t0 x  }% O0 W+ g2 V- ~/ aThe average price of a condo in April - $256,947 - also dropped by 2.3 per cent from last month.

; K4 ?8 G4 }* z# }3 _8 fDuplexes 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 H% z5 C4 i/ }  M# Y' l# 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.

; Z( G. f' j+ y0 D" WThe 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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bmah@thejournal.canwest.com
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& g3 n2 u9 y; c8 f& x0 \© Edmonton Journal 2008

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