Edmonton housing prices slip

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Edmonton housing prices slip
3 c3 g. r: ?) k0 i5 ~' B9 {7 oBill 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.

' f& d* c' T9 B1 v" V$ D6 D) vDetached 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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- e) W% |' M; d"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."

0 J8 k: `, s4 l- uThe average price of a condo in April - $256,947 - also dropped by 2.3 per cent from last month.
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5 }" ~5 m1 D/ M' ]! E6 @6 }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.

# X* S, G- {7 ]0 {: f9 eApril 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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, ?4 n4 ~3 w0 o, H4 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.

bmah@thejournal.canwest.com

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© Edmonton Journal 2008

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