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Edmonton housing prices have largest one-month drop in city's history
# J& J4 U/ B3 @" p3 X: bEdmonton Journal8 y) \! \. V/ \* V/ O9 r
Published: 12:09 pm2 x6 s3 g4 A) |
Edmonton-area home prices fell by almost $10,000 in August - the deepest drop in this city's history.4 |$ e+ Z* Y& B7 G+ |
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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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Inventory rose to a record level of 9,185 listings with 4,331 homes newly listed during the month and only 1,229 sold.. S5 j R7 U8 B' g
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One year earlier, inventory was just 2,138 units.
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2 i) T7 l k9 N9 s) ~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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Average prices of single-family homes fell 3.2 per cent, in August, to $403,757. That rolls them back to the levels of March and April. But they're still up 27.6 per cent from 12 months earlier., Q# L# b: P$ f" S, U/ z
( n \$ H4 m; u: r/ n! hPercentage-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." {) w, ~- r& u5 N# l# T
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" d) j# G% I5 b* e7 ?© Edmonton Journal 2007 |
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