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Edmonton housing prices have largest one-month drop in city's history
6 i& ?% F) P6 YEdmonton Journal
1 Y% I; P h% p f) X6 C3 [Published: 12:09 pm
L& k8 ]( w7 c) u# ?6 X: MEdmonton-area home prices fell by almost $10,000 in August - the deepest drop in this city's history.2 w# x" z* a% i5 G9 g
* U5 x+ ~% F b0 b9 Z. ^$ a# QThe August average of $344,792, for all forms of housing, was down 2.8 per cent from July.
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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.. ?5 x. y4 Z* W; G
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) P% N8 A! m1 [One year earlier, inventory was just 2,138 units.
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9 D- X, p8 O, M4 A% A1 u; S" E1 e9 GWhile 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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Average prices of single-family homes fell 3.2 per cent, in August, to $403,757. That rolls them back to the levels of March and April. But they're still up 27.6 per cent from 12 months earlier.& d3 h# v2 X7 H) @4 F/ @4 p$ _: n
3 n8 p, k: X9 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.
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© Edmonton Journal 2007 |
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