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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 2005.2 \# w# S P+ T8 r; ^7 f+ j- k7 T
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“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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Single 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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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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( r" V9 I4 F6 X/ Y7 jApril 2008 activity Record for
# C( a0 P" N" W3 M) _" jthe month* % change from
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Total MLSsales this month 2,047 -25.80% 1 L( @ {4 }, c, R8 p
Value of total MLSsales – month $699 million -28.80% ' N$ f/ Y6 `- F
Value of total MLSsales – year $2.27 billion -27.50% % v6 ^9 n- w1 u8 Q- R0 C8 X0 l, w" Q
Residential¹ sales this month 1,823 -25.30% * w9 k) b0 d( ]1 x" ^& B: g
Residential average price $336,931 -2.10%
$ u2 `$ ~; T5 c4 JSFD² average selling price – month $386,033 -6.60%
' t7 [2 [! l" x' Z- N/ |SFD median³ selling price $372,500 -6.60% " s: n {* N& Z- D! K
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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