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Edmonton housing prices have largest one-month drop in city's history Q5 H2 l6 q" R
Edmonton Journal! ~5 N# X U* k* T+ {$ G
Published: 12:09 pm
' n" ]7 F- h* yEdmonton-area home prices fell by almost $10,000 in August - the deepest drop in this city's history.7 @6 g& ^& N. G, `
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The August average of $344,792, for all forms of housing, was down 2.8 per cent from July.
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Inventory rose to a record level of 9,185 listings with 4,331 homes newly listed during the month and only 1,229 sold.: [$ D7 a3 r7 f! D% u2 y
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One year earlier, inventory was just 2,138 units.& w1 ?0 t* i! r( G9 @1 ]
$ F0 _ Y. `8 Z; \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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4 {6 _! |! G5 {0 F5 {Average prices of single-family homes fell 3.2 per cent, in August, to $403,757. That rolls them back to the levels of March and April. But they're still up 27.6 per cent from 12 months earlier.- \2 z4 r! m+ d0 z3 n: g# V$ b. ]
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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 $10,720.8 c& x& B+ k" j- |: }# c( {# v
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© Edmonton Journal 2007 |
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