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Edmonton housing prices have largest one-month drop in city's history! \& O% w0 b8 z/ f p
Edmonton Journal8 `# O5 b* z$ J8 ?
Published: 12:09 pm
8 }9 z. ?2 X& R' J1 nEdmonton-area home prices fell by almost $10,000 in August - the deepest drop in this city's history.6 x; ^- U, V# \! b" q
9 I/ g! J0 @# D8 D8 \% pThe 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.# o* c" [* ~0 g/ M6 `6 A
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One year earlier, inventory was just 2,138 units.
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0 e9 M0 ~9 Z& PWhile 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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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.
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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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. B! A& V2 |! l( b" Z; Z% K© Edmonton Journal 2007 |
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