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Edmonton housing prices have largest one-month drop in city's history
% T0 E! l! j7 u& B, OEdmonton Journal
) W& Z' b+ R$ H3 _; E9 BPublished: 12:09 pm
0 K* z* F Q" p! s1 [Edmonton-area home prices fell by almost $10,000 in August - the deepest drop in this city's history.
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& H" y5 _: [6 O4 [2 K8 \The August average of $344,792, for all forms of housing, was down 2.8 per cent from July. e+ I. e6 E" d# g0 M1 q+ B
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Inventory rose to a record level of 9,185 listings with 4,331 homes newly listed during the month and only 1,229 sold.
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# u2 c; T! p4 b$ a' B3 }One year earlier, inventory was just 2,138 units.3 D2 x% i8 D- S- A4 p* T- d
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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.) W+ ]8 n5 A0 |, I7 u; S& G" J
2 k9 I A+ _; k, }" i$ ^- kAverage 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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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.; Q+ K5 ^0 B0 U
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* p0 r9 e& G8 e9 Y) i© Edmonton Journal 2007 |
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