Edmonton housing prices slip

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Edmonton housing prices slip
7 \3 n. N; Q$ \Bill Mah, edmontonjournal.com
; N- g' q1 r9 [/ sPublished: 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.

" H; ?; M4 G9 i8 F5 YDetached 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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) x) D2 U; O8 N" k0 }2 b"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."

* z$ o* h, ], R2 ^9 f$ E0 q9 RThe average price of a condo in April - $256,947 - also dropped by 2.3 per cent from last month.
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& w4 {% E6 i* v. B" jDuplexes 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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( I3 Y5 j, N2 JThe 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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© Edmonton Journal 2008

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