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Edmonton housing prices have largest one-month drop in city's history
8 G' |- ^: {" M1 OEdmonton Journal. X1 S2 o: K6 ~! {1 k0 y7 b; a
Published: 12:09 pm
, G: C8 A* h" rEdmonton-area home prices fell by almost $10,000 in August - the deepest drop in this city's history.3 [ i5 P8 O* i
2 o, b T, | a; C; Q7 h- {The August average of $344,792, for all forms of housing, was down 2.8 per cent from July.
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Inventory rose to a record level of 9,185 listings with 4,331 homes newly listed during the month and only 1,229 sold.5 Q$ ~! r. N. c
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One year earlier, inventory was just 2,138 units.
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8 g. F) u$ j: f( L- _8 O y5 ?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.. G5 J$ @* B1 T, |! r g: o% f# E+ p
, r* w2 _7 ~9 e) O( ^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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+ d3 g+ q: `- ?# O4 tPercentage-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.% W3 J9 I' {5 f
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* J: t% l% l( F© Edmonton Journal 2007 |
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