Edmonton housing prices slip

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Edmonton housing prices slip
4 N' i* [' b9 m3 t$ d* rBill Mah, edmontonjournal.com
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: i. }) V. L7 w/ T9 UEDMONTON - 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.

- r2 e" z/ `3 r1 R5 G+ S+ ^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 $27,455 - from April 2007 when the housing market was still simmering.
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"The Edmonton housing market is stable, and buyers and sellers seem to be coming to a realistic view of housing prices," said Marc Perras, president of the Realtors Association of Edmonton.
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' F/ l3 S7 f0 |( D" v"While the typical sale is completed at 97 per cent of the asking price, many sellers have had to reduce their price to find the level that would attract a buyer."
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- \6 D! g# \! Z7 c$ |* bThe average price of a condo in April - $256,947 - also dropped by 2.3 per cent from last month.
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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.

3 V6 e. y6 \# ]9 @( Y; |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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1 O3 L0 i' i2 x8 m2 V) CThe 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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  d) O3 l( G+ d' o8 x© Edmonton Journal 2008

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