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Edmonton housing prices have largest one-month drop in city's history- Z0 G! `& v. g
Edmonton Journal
/ ]1 V/ u# R7 p* Y, Q2 J: {) o# ePublished: 12:09 pm
2 u, B8 L# C$ C# B! [Edmonton-area home prices fell by almost $10,000 in August - the deepest drop in this city's history.& H2 n {- T- x' C2 B; p( W7 f
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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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5 R3 F# c# v' p/ J- ?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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7 L+ H( r. _3 D% rOne year earlier, inventory was just 2,138 units.5 t' W6 ~. s' H ? _4 c
3 F, H& p0 K( p# e8 hWhile 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.! n. E, a7 ^ v! H. {0 c
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Average prices of single-family homes fell 3.2 per cent, in August, to $403,757. That rolls them back to the levels of March and April. But they're still up 27.6 per cent from 12 months earlier.) Z& t4 G4 h: g$ p# g! X z
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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 $10,720.' B0 n& v: n) t. E$ Y9 d
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4 Q2 X* }1 Z/ X© Edmonton Journal 2007 |
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