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Edmonton housing prices have largest one-month drop in city's history
_, s4 _7 a3 |Edmonton Journal
$ @5 V5 ~) J Q4 F7 y' [Published: 12:09 pm5 m3 t4 K+ b5 {
Edmonton-area home prices fell by almost $10,000 in August - the deepest drop in this city's history.
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1 x( }+ k0 b# }% wThe 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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One year earlier, inventory was just 2,138 units.
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/ X, a* n) O; v) k% }/ @/ lWhile 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.3 G8 G* {. e) x5 r! D! b" i
' \$ ?( H. \, ~1 q1 P4 D0 QPercentage-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.! @+ ~% A* F7 t
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© Edmonton Journal 2007 |
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