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Edmonton housing prices have largest one-month drop in city's history
( {0 Y$ Q) Z( F8 y3 g6 P/ ]Edmonton Journal/ U4 \& W' j& C4 Z, a" s% ?
Published: 12:09 pm
0 j% n6 {8 z, r5 x4 AEdmonton-area home prices fell by almost $10,000 in August - the deepest drop in this city's history.
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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 o. Q4 ?% [- K D6 F. o9 D5 XOne 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.1 h" p! q. k# g. M
7 H0 p4 w1 V GAverage 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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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/ d7 K" \! m9 B, X
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© Edmonton Journal 2007 |
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