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Edmonton housing prices slip
, ^3 |% v( T2 j; Y( q1 |Bill Mah, edmontonjournal.com
8 |" ~* x- b4 G$ I4 KPublished: 1:42 pm
4 w- |7 A. I# ?# b( ^2 c5 ^( I i2 mEDMONTON - 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.$ Y. F& ~0 c& @% } g* W4 T
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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 $27,455 - from April 2007 when the housing market was still simmering.
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; s* L" d [. W6 d$ r"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.; n/ k( j. D4 m$ X/ S& s+ O
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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."
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The average price of a condo in April - $256,947 - also dropped by 2.3 per cent from last month. ) Y) j1 N- x3 `1 o R
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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 $316,065.
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April sales of all types of homes through the Multiple Listing Service was 1,823 transactions - down about 25 per cent from the same month last year. But April sales were still higher than the more typical years of 2004 and 2005, the association said.$ N# Q/ g6 x& ~3 z: z
& ]4 W5 c i. h+ ^. a2 }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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: B6 G* H9 z" v0 ubmah@thejournal.canwest.com) T0 _9 |. c8 ?: G
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* } G# K/ {$ i& L© Edmonton Journal 2008 |
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