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Edmonton housing prices have largest one-month drop in city's history: V7 C5 P1 V U
Edmonton Journal5 H* j/ n8 w4 t+ e8 q& v, [" y
Published: 12:09 pm# Y& \6 F- W% f3 s( Z/ n
Edmonton-area home prices fell by almost $10,000 in August - the deepest drop in this city's history.6 y* `) T j/ G" v3 k
- s) ^6 |% j9 H6 ?( }The August average of $344,792, for all forms of housing, was down 2.8 per cent from July.
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Inventory rose to a record level of 9,185 listings with 4,331 homes newly listed during the month and only 1,229 sold.* x0 ~5 C" {8 ?* G% w, }3 e, Z, l2 |$ s
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$ g9 j& R0 h* @One year earlier, inventory was just 2,138 units.5 w+ @" m- U6 S4 V9 ~
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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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* m1 y& n/ _& f2 ^' 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.
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, i& H: \" [7 Q9 J: kPercentage-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 $10,720.4 A) C* x. n% m* [7 g4 x
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© Edmonton Journal 2007 |
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