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Edmonton housing prices have largest one-month drop in city's history5 ~" p, t7 N3 q8 L) S9 k0 n* Y% [
Edmonton Journal. g* F4 l, ^' x% g4 P1 F6 O
Published: 12:09 pm! X2 c) e2 Y1 \+ A; g; r) W( q
Edmonton-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 $344,792, for all forms of housing, was down 2.8 per cent from July.
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9 C4 V( n$ T) v- S( CInventory 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.1 b$ d R0 s$ s2 ?8 F6 k( y
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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." [+ k: K. F; x& t
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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 $10,720.
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7 s/ X% Z; J* R$ ?© Edmonton Journal 2007 |
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