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Edmonton housing prices have largest one-month drop in city's history4 D6 V; t0 H1 Y s" Q: y
Edmonton Journal, {# D7 [$ K6 O: B
Published: 12:09 pm
- G- F: A4 x, m* ?; u! h$ ?Edmonton-area home prices fell by almost $10,000 in August - the deepest drop in this city's history.
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' {1 a1 i9 L- d7 x5 J" I$ h1 vThe 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.6 J2 ]8 I) ^" q7 E* J, R- q
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One year earlier, inventory was just 2,138 units.! D* P0 @" M- ~& J
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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.3 V+ w; P1 L- z3 K' x; 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.
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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.- u! p1 s4 J7 {2 F
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© Edmonton Journal 2007 |
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