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Edmonton housing prices have largest one-month drop in city's history
# B; _3 @- A8 r9 n! KEdmonton Journal
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3 \0 L8 R4 r& L( BEdmonton-area home prices fell by almost $10,000 in August - the deepest drop in this city's history./ s- _& ~+ }& M
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The August average of $344,792, for all forms of housing, was down 2.8 per cent from July.
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, ~' q' J# q4 Y) c1 QInventory rose to a record level of 9,185 listings with 4,331 homes newly listed during the month and only 1,229 sold.
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4 R# ]- B+ g4 Z0 t# `0 V$ QOne year earlier, inventory was just 2,138 units.7 y! U5 Y- ?* n7 U
, r0 F/ Y3 k# |% F0 o5 UWhile 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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7 n9 I4 [$ E, y8 aAverage 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.' B3 m' p9 y; k3 t# {0 W0 S
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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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! g+ P( a8 c/ Q' K© Edmonton Journal 2007 |
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