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Edmonton housing prices have largest one-month drop in city's history
* Z3 b3 W& T. x& i& {Edmonton Journal$ I1 k) b. s# O, M8 u3 ^
Published: 12:09 pm# I7 F. r5 b1 g- D
Edmonton-area home prices fell by almost $10,000 in August - the deepest drop in this city's history.
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The August average of $344,792, for all forms of housing, was down 2.8 per cent from July.: D! t) [* o. ^, e* y. ~# J
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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.8 Z+ l( \6 u1 [0 C) m# N
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One year earlier, inventory was just 2,138 units.
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+ W) Q8 _; b! d+ {3 i- {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.
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8 A0 a" y1 A8 T# D8 |8 H2 J4 R; eAverage prices of single-family homes fell 3.2 per cent, in August, to $403,757. That rolls them back to the levels of March and April. But they're still up 27.6 per cent from 12 months earlier.# z$ ?2 I: q: y$ L
1 I' A m/ x, J! mPercentage-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 $10,720.5 q: e5 S2 B, r3 @' [+ e5 o8 F
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7 z1 l) M) F) e y© Edmonton Journal 2007 |
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