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Edmonton housing prices have largest one-month drop in city's history8 _2 p5 Y7 f& J% e* w
Edmonton Journal/ x/ ^6 e Y! N
Published: 12:09 pm
$ G) E# G; d ?2 }' S1 `$ l. _: kEdmonton-area home prices fell by almost $10,000 in August - the deepest drop in this city's history.
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, |+ z2 G" T) o1 v( } J6 rThe August average of $344,792, for all forms of housing, was down 2.8 per cent from July.
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Inventory rose to a record level of 9,185 listings with 4,331 homes newly listed during the month and only 1,229 sold.: X* `2 Y1 u X C' u
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" I: I. Q- \# }8 e$ n& |+ cOne year earlier, inventory was just 2,138 units.& u3 y. J0 U) \# ]" ^
n. p' ]) `' v9 D3 \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.
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9 v: C. @- ? {; U/ _2 e [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.+ {7 H3 D; `- _" s: ?: |
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© Edmonton Journal 2007 |
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