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Edmonton housing prices have largest one-month drop in city's history: T7 [9 \+ X. F
Edmonton Journal' i- e/ i! r: Q, Q. B& W% D
Published: 12:09 pm+ z2 u0 R$ Y2 Z4 H9 k7 [4 X* B8 S
Edmonton-area home prices fell by almost $10,000 in August - the deepest drop in this city's history.# I$ G# n, x# d3 U
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The August average of $344,792, for all forms of housing, was down 2.8 per cent from July.
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Inventory rose to a record level of 9,185 listings with 4,331 homes newly listed during the month and only 1,229 sold.
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4 ^$ \) p7 C- k: V" I$ q9 fOne year earlier, inventory was just 2,138 units.) O, y% }6 U& P3 Z' Q
! s9 P% e1 t4 O) D( z' p5 oWhile 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 Y$ ~; f. S* \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.; K6 {0 ~ o" e0 w8 B) k
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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.. N* E3 i: y( l: I+ g
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© Edmonton Journal 2007 |
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