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Edmonton housing prices have largest one-month drop in city's history
- _1 g9 P( J6 Z! {, Y$ KEdmonton Journal
' Z/ n: y1 ]$ g# QPublished: 12:09 pm- w7 b5 G. x! k4 n
Edmonton-area home prices fell by almost $10,000 in August - the deepest drop in this city's history.
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( J7 o: Z' f: dThe 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.
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One year earlier, inventory was just 2,138 units.
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+ I `, m' J( D) z0 g# tWhile 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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3 C) c. D8 p; ?; {Average prices of single-family homes fell 3.2 per cent, in August, to $403,757. That rolls them back to the levels of March and April. But they're still up 27.6 per cent from 12 months earlier.3 a$ x2 x: { ]. ` M W* }) _
' u1 H, W( N7 i# ~8 SPercentage-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." A% v) d; `2 M3 R1 i9 C
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7 a, l& p- ]2 ?4 i# |; A* S© Edmonton Journal 2007 |
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