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Edmonton housing prices have largest one-month drop in city's history
- [9 B3 W% P; ^, H( ^4 [& K# sEdmonton Journal( v6 W" N. U) y5 C+ `" @ _0 G
Published: 12:09 pm9 h# Y7 a0 \" B# _& E
Edmonton-area home prices fell by almost $10,000 in August - the deepest drop in this city's history.
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* a9 W# r( w* WThe August average of $344,792, for all forms of housing, was down 2.8 per cent from July.1 \" k' v4 x4 K1 |( l
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Inventory rose to a record level of 9,185 listings with 4,331 homes newly listed during the month and only 1,229 sold.$ z' z5 I6 [( G; S+ K5 d
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( e( x; Z* W/ J1 Z% ]1 yOne year earlier, inventory was just 2,138 units.5 X$ r2 ]* L7 H. k0 k' ^. }8 q6 [( C
! U2 h' H* A& ~2 n7 \While 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.- | ^/ h! {5 o% n$ C# E/ ]
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Average prices of single-family homes fell 3.2 per cent, in August, to $403,757. That rolls them back to the levels of March and April. But they're still up 27.6 per cent from 12 months earlier.
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1 x' X$ }; r0 T4 l0 q5 t# |, ^ M% fPercentage-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.* D0 Y: e+ u8 J; d
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© Edmonton Journal 2007 |
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