Edmonton housing prices slip

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Edmonton housing prices slip
. w* ~3 \' ]9 n4 bBill Mah, edmontonjournal.com
- L# n6 ]( R' d. E" PPublished: 1:42 pm
" O4 o  U4 }5 `0 Q6 oEDMONTON - 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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' T4 g/ U! \; rDetached 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.

"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.
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. O* y) R; y& Z8 j  B, O9 v/ @"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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; g+ {! b: t/ eThe 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 $316,065.
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7 F, K' B& D$ N: J8 mApril 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.

& o" x2 B9 ]" d; `  dThe days a residential listing stayed on the market in April was 52, more than double the same month last year when it was 22.

' J$ C1 G) v& C* l' L: f4 J/ {bmah@thejournal.canwest.com


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( j/ Z, H* |" O( L. U© Edmonton Journal 2008

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