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Edmonton housing prices have largest one-month drop in city's history5 {# k3 j/ S# s" _0 x# Y( p
Edmonton Journal7 I8 [+ e3 p& y+ V- J' v. `
Published: 12:09 pm
$ T- X& v, h( l" a& g" o& D& jEdmonton-area home prices fell by almost $10,000 in August - the deepest drop in this city's history.
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' m9 H, X; O5 q* MThe August average of $344,792, for all forms of housing, was down 2.8 per cent from July.' D" L! V2 t1 G
/ B* o2 b% \. yInventory 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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% a: T. ~9 I9 s* @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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; v7 ~1 Y: M3 k- _" H. CAverage 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.. M/ U% m! t+ J: ^& j" u6 ?, k9 ~9 }
# ? K1 z" u" d B/ m" i! E) sPercentage-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. _3 D! B0 D, v/ g
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© Edmonton Journal 2007 |
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