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Edmonton housing prices have largest one-month drop in city's history1 v5 i$ X$ l' ^$ i3 y# r$ r
Edmonton Journal
+ B0 R' p" W T/ I2 f; R7 JPublished: 12:09 pm
1 f1 R% v% Y9 N7 QEdmonton-area home prices fell by almost $10,000 in August - the deepest drop in this city's history.! M) N! q' v m/ f+ S* B; X
. X4 i* f B& D% j* y- X) OThe August average of $344,792, for all forms of housing, was down 2.8 per cent from July.
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Inventory rose to a record level of 9,185 listings with 4,331 homes newly listed during the month and only 1,229 sold.
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One year earlier, inventory was just 2,138 units.
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, A- W* f! R3 [6 v* aWhile sellers have lost the luxury of bidding wars, "buyers have a lot of choice," said Carolyn Pratt, president of the Realtors Association of Edmonton - which released the figures, Wednesday.
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# N! l2 [5 @$ `# p; u3 bAverage prices of single-family homes fell 3.2 per cent, in August, to $403,757. That rolls them back to the levels of March and April. But they're still up 27.6 per cent from 12 months earlier.
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8 C; h- y* C) G3 rPercentage-wise, home prices have fallen more steeply in earlier years. From December, 1994 to January, 1995, average prices fell 6.5 per cent to $106,645. From June to July, 1984, they fell 7.9 per cent to $75,800. From February to March, 1964, they fell 23.1 per cent to $10,720.9 F7 H. S1 t$ W! v
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" l. W" j: R" q4 |© Edmonton Journal 2007 |
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