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Edmonton housing prices have largest one-month drop in city's history) u6 x! k Q' |
Edmonton Journal" V7 L2 h S- b
Published: 12:09 pm
8 {5 K' g1 o( p/ O* i& L2 mEdmonton-area home prices fell by almost $10,000 in August - the deepest drop in this city's history.
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, t" Z) @ n, k4 A4 _- ?& vThe August average of $344,792, for all forms of housing, was down 2.8 per cent from July.
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Inventory rose to a record level of 9,185 listings with 4,331 homes newly listed during the month and only 1,229 sold.
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! R9 v$ M! s" g/ A& \# F: bOne year earlier, inventory was just 2,138 units.1 B& s6 j S) J1 N/ s6 I O" i8 z
, T2 T, \2 ^4 A# Y+ d9 ~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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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., r: o' ^+ M& B+ U; i. j! l1 O
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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 $10,720.9 t, I: `: j ]) k/ g9 R* [) [% @
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© Edmonton Journal 2007 |
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