Edmonton housing prices slip

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Edmonton housing prices slip
" T3 ~- @( l4 `( p% p9 Y& a/ ZBill Mah, edmontonjournal.com
Published: 1:42 pm
; h# B1 y/ d- W5 q5 ~1 f* e+ iEDMONTON - 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.
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! ]0 Z) \$ j9 o% e+ x; qDetached 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.

"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.

! @# I' C) z6 \! S"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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- b( q0 R, Q1 q- P4 FThe average price of a condo in April - $256,947 - also dropped by 2.3 per cent from last month.
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+ s2 t$ d+ a8 D5 W$ @& O8 nDuplexes 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.
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% z. Z0 m# R. w) K4 Q; _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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bmah@thejournal.canwest.com

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6 x, G/ Z, R7 A9 k4 ?: \© Edmonton Journal 2008

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