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Edmonton housing prices have largest one-month drop in city's history
9 i, F, k# g4 a" C3 FEdmonton Journal0 B7 p$ ^- }: L2 ^5 v2 G
Published: 12:09 pm
, m. J O7 y1 `2 C( vEdmonton-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.
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9 ~0 ?+ C/ y3 P4 t: ~6 YInventory rose to a record level of 9,185 listings with 4,331 homes newly listed during the month and only 1,229 sold.) Z( a2 F4 T5 l/ n1 J! v
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/ s5 V1 i, C! ~One year earlier, inventory was just 2,138 units.
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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.# T1 ]2 F9 X' X& `; v
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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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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 $10,720.3 x5 r5 \) Q- u7 L
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4 j* ]7 B% y; h. V' ]2 X© Edmonton Journal 2007 |
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