Housing Market Regains Balance from Spike in Listings

Housing Market Regains Balance from Spike in Listings
Further Evidence that Housing Market is Achieving Balance.
Edmonton July 5, 2007: Further evidence of the rebalancing of the Edmonton housing market was released by the REALTORS® Association of Edmonton this afternoon. Unlike many sales in the past year and a half, most homes sellers who sold their single family home in June accepted a lower price than they were asking for to complete the transaction.
There were 801 single family homes sold in the City of Edmonton through the Multiple Listing Service® in June 2007.
76.4% or 612 homes were sold for less than their list price
11.2% or 90 homes were sold for the exact price expected by the seller
12.3% or 99 homes were sold for more than the list price
The average sale price for homes sold below list were discounted by about $12,500.
Homes sold above list gained an average of $8,760 for the seller. By comparison, in July 2006, just 66% of homes sold under the list price and 23.6% of homes sold were sold for more than the asking price. In September 2006, 65.8% of single family homes sold below the list price and 19% of homes sold for more than the list price.