Edmonton house sales will be down this year compared to 2009, the Realtors Association of Edmonton predicted in its annual forecast released Thursday.

The association predicts 15,500 homes will be sold through the Multiple Listing Service in 2009, compared to 17,317 that were sold in 2008, a drop of 10.5 per cent.

"The Realtors Association expects that the continuing global uncertainty and buyer reluctance will continue through the first part of this year," association president Charlie Ponde said.

"The confidence will start to return in the later part of the year, and sales will pick up."

The average price of a single family home sat at $350,000 in 2008, and while the numbers will vary slightly in 2009, the association expects prices will be at the same level at the end of the year.

The prices for resale condominiums are forecast to drop about 5 per cent in 2009 because of a large inventory of new condos coming on to the market in Edmonton.

"As condo developers trim their prices to clear excess inventory, they will put downward pressure on existing condo prices," Ponde said.

The average price of a condo in December 2008 was $234,286. The average price is forecast to be $222,500 by the end of 2009.