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Edmonton’s residential housing market is stable, but it’s taking longer to sell homes, a new report shows.

The average sale price for a residential property, including condos, duplexes and row houses, was $384,504 in July — three per cent higher than the same month last year.

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The figures released Wednesday by the Realtors Association of Edmonton show that single-family homes sold for an average of $450,366 last month, which also marks a three-per-cent jump from 2015.

“We are continuing to see strong stable pricing throughout the Edmonton region despite slower sales,” association chairman Steve Sedgwick said.

There were 8,048 residential properties on the market at the end of July, an 11-per-cent increase year over year.

Residential sales in the Edmonton area were down 16 per cent compared to last year, with 1,515 units sold. That included a decrease of 25 per cent in condo sales and 16 per cent in single-family homes. Sales of duplexes and row houses however were up 11 per cent compared to July 2015.

Calgary’s real estate market also saw a decline, with a 12.6-per-cent decrease in sales over July 2015. But the city’s local real estate board said fewer listings helped stem further price drops. The Calgary Real Estate Board said that sales activity totalled 1,741 units last month.