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Edmonton housing prices have largest one-month drop in city's history9 P$ t# y; L* Y$ S* w/ g. Y0 }3 T1 k
Edmonton Journal4 q; w P7 Z5 L2 \; y3 X% j) _# m7 B
Published: 12:09 pm
. E. w1 p$ H1 o/ w% o( aEdmonton-area home prices fell by almost $10,000 in August - the deepest drop in this city's history.
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9 U- n' I6 R4 q/ q$ B( `0 JThe August average of $344,792, for all forms of housing, was down 2.8 per cent from July.: {# g1 j* Y. U# z
9 Y0 M1 ]7 K) H8 X2 ?$ m! }Inventory rose to a record level of 9,185 listings with 4,331 homes newly listed during the month and only 1,229 sold.: a' n/ d3 r0 ?5 V R
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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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2 y7 t X4 |5 B1 {' L8 BAverage 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.
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© Edmonton Journal 2007 |
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