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Edmonton housing prices have largest one-month drop in city's history) o6 H. d4 [) `0 c; N
Edmonton Journal1 _8 v+ N# d, u, J7 U
Published: 12:09 pm
! y* l, b% A" P4 }+ `Edmonton-area home prices fell by almost $10,000 in August - the deepest drop in this city's history.
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) y# C( O8 Y- A5 v1 S1 sThe 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.2 a' u: W& }& o
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0 Z1 |) }) k0 E/ jOne year earlier, inventory was just 2,138 units., c0 o2 f4 [2 U; f* V1 M; ?
% v& f9 H% w0 @0 z2 [0 iWhile 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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4 m; n. C" A, g4 DAverage 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( z, Q4 o/ P* Z7 B0 b3 U& {4 o! g
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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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