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Edmonton housing prices have largest one-month drop in city's history
1 M: H* d8 ~$ x+ `" J A& P! PEdmonton Journal
8 y+ A" _# ] Q4 S5 H6 mPublished: 12:09 pm1 @4 J1 Q5 [; b, O) J4 t* |
Edmonton-area home prices fell by almost $10,000 in August - the deepest drop in this city's history.) J! M, u3 A* m) [
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The August average of $344,792, for all forms of housing, was down 2.8 per cent from July.
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! n) Y* u9 R8 f. F+ e0 L. bInventory 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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, n0 D9 M: ]6 N( a8 Z9 {' ~8 qOne year earlier, inventory was just 2,138 units.4 b6 p7 p7 f: H3 h
0 s: G" X8 n9 rWhile 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.6 H- e# R7 ~0 y4 w/ E9 |' [
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Average 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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. q" p* X9 S: \ ^Percentage-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.% G: u% \8 b4 C' Z! R1 W& j+ H
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4 h# z v+ m* ]8 [© Edmonton Journal 2007 |
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