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Edmonton housing prices have largest one-month drop in city's history
% B+ j4 y% k7 c) g' y# }$ S7 tEdmonton Journal
9 M1 B& f1 T2 {- e2 GPublished: 12:09 pm/ C' z. n1 [7 \- }# O& C+ Z
Edmonton-area home prices fell by almost $10,000 in August - the deepest drop in this city's history.3 t" v3 M q% K8 X% ?+ E
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The August average of $344,792, for all forms of housing, was down 2.8 per cent from July.; o0 r* ^0 h% L
/ C7 q0 v9 L, lInventory 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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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.
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4 }7 l) B, m6 Z5 v( }) ~# PPercentage-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.# V+ k8 n% t/ Z
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; f, `- S/ G3 p; s3 v© Edmonton Journal 2007 |
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