Edmonton housing prices slip

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Edmonton housing prices slip
, {+ K. {9 _% t7 N; XBill Mah, edmontonjournal.com
: A, q; U$ @5 w! V' o8 z; {9 TPublished: 1:42 pm
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.
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7 R; W+ n! ]  |3 F/ 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.

1 K" j# T5 Q9 d9 B. J4 }! ?0 u"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.

$ y0 x2 U1 z9 y4 x; Q0 D) D"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."

( D# q6 \  L; Y9 A  Y) V" F  G" GThe average price of a condo in April - $256,947 - also dropped by 2.3 per cent from last month.

! }1 h$ _% p1 P; \9 `1 Z  qDuplexes 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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  l6 ]# _. o: M( r; n. i6 uThe days a residential listing stayed on the market in April was 52, more than double the same month last year when it was 22.

4 |  z; c1 c' t( X. lbmah@thejournal.canwest.com




7 _3 ~1 K0 e; R0 o/ H4 {© Edmonton Journal 2008

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