Edmonton housing prices slip

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Edmonton housing prices slip
- e9 w* {- x; h6 i2 P+ fBill Mah, edmontonjournal.com
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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.

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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1 b' A3 r/ ]' j- x' s, f: M"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.

$ Y4 D# A$ s% b! L6 ]"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."

% C3 T% s7 D) m3 r: UThe average price of a condo in April - $256,947 - also dropped by 2.3 per cent from last month.
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  I$ F) {& V, t( `' A& Q: gDuplexes and townhouses sold last month bucked the trend, selling for 2.3 per cent higher than last month, at average price of $316,065.

8 {7 i* e; ?$ [* A( @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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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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1 L* }; V, u. x2 c. lbmah@thejournal.canwest.com
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© Edmonton Journal 2008

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