Edmonton housing prices slip

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Edmonton housing prices slip
Bill Mah, edmontonjournal.com
' d% E# m5 `" V. \: ^/ uPublished: 1:42 pm
8 M& ~; a8 H; S8 S6 Q. XEDMONTON - 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.

& I0 b" }3 K6 {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.

$ o0 |' h* m+ n: h, H: J- C0 q"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."

* |5 r5 ]3 \, W1 R: kThe average price of a condo in April - $256,947 - also dropped by 2.3 per cent from last month.

  O# D5 l& _4 S( e9 x+ `# |, F5 f( `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.

April 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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2 D  Q, e: W: ~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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+ F$ g, h! {, Sbmah@thejournal.canwest.com



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© Edmonton Journal 2008

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