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Edmonton housing prices have largest one-month drop in city's history
. Q- J0 l; q7 X0 t c# OEdmonton Journal$ @' M) @' W9 a$ f) q! U8 G; \
Published: 12:09 pm8 K) d5 P" y4 c; {, F w
Edmonton-area home prices fell by almost $10,000 in August - the deepest drop in this city's history.
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The August average of $344,792, for all forms of housing, was down 2.8 per cent from July.
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9 q1 T+ h3 Q$ {+ ~/ e5 @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.. x4 [$ z7 C2 B6 q
5 V7 z2 n' Q% b9 C- b; jWhile 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.! C4 M) ^/ D8 k3 E0 Q
! i: \ H1 o1 C \4 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.
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( s- D4 y# q. A* _4 C+ ?2 S5 QPercentage-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 $10,720.4 a! t. S4 f# B3 H. }# l
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/ c" ?2 ]9 M; [% n2 o© Edmonton Journal 2007 |
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