Edmonton housing prices slip

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Edmonton housing prices slip
Bill Mah, edmontonjournal.com
5 V' G; r' H( a" \% I. M1 k% |Published: 1:42 pm
* b1 B3 B; e5 N; PEDMONTON - 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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  J' F8 ^$ w( |. M, J5 `1 jDetached 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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0 {# W/ L# e9 J"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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"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."

The average price of a condo in April - $256,947 - also dropped by 2.3 per cent from last month.

- `3 p9 D! j. l3 A! YDuplexes and townhouses sold last month bucked the trend, selling for 2.3 per cent higher than last month, at average price of $316,065.

% q; [1 w: C4 b+ Z9 e. b6 ]* tApril 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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; O/ C' G6 E) j" C2 u% ^The 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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( m* E) y" y" J: Y( lbmah@thejournal.canwest.com
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3 S* O- y8 ?! l- T/ t7 D7 q© Edmonton Journal 2008

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