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Edmonton housing prices have largest one-month drop in city's history0 Y; e2 Z. g8 y* z( Z
Edmonton Journal
% K9 b6 P/ [: ^$ e4 t3 \9 lPublished: 12:09 pm
% G2 i& E) V5 N9 u# HEdmonton-area home prices fell by almost $10,000 in August - the deepest drop in this city's history.* L8 q; U; m4 M1 j: Q2 _2 D
, w( o, _& V3 [7 D7 \! K HThe 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.( w6 e2 I+ H. S
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4 m( h' p! S4 h% s: x2 yOne 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.1 {8 y9 F( e6 G. I1 H
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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.: C6 q5 N4 ^( U
: v- I, E3 Y5 @4 {5 {0 n) O, A6 uPercentage-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 $10,720.6 ]% V4 x5 `9 C
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© Edmonton Journal 2007 |
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