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Edmonton housing prices have largest one-month drop in city's history
8 K( K! g. r J6 ~Edmonton Journal
1 V% z+ u# d" n9 iPublished: 12:09 pm* a& ~4 n7 U/ F) s: L( Z9 m# ?- Y
Edmonton-area home prices fell by almost $10,000 in August - the deepest drop in this city's history.5 E# Y4 [* _8 ~. j
8 e0 B. p9 L- ?The August average of $344,792, for all forms of housing, was down 2.8 per cent from July.
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- |& e. D6 P$ P$ W: b; U8 K; R8 G9 ~Inventory rose to a record level of 9,185 listings with 4,331 homes newly listed during the month and only 1,229 sold.0 \ C7 g1 \& g2 q" O2 g( N0 f
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1 i, T1 T( M$ ~. b. ?( m5 ?One year earlier, inventory was just 2,138 units.
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7 y6 m" X* o( M0 uWhile 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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; ^& Y% W# W) s: N! [& k. GAverage prices of single-family homes fell 3.2 per cent, in August, to $403,757. That rolls them back to the levels of March and April. But they're still up 27.6 per cent from 12 months earlier.
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" p* K% K8 u" d$ a* `9 B- z# Z+ `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.
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© Edmonton Journal 2007 |
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