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Edmonton housing prices have largest one-month drop in city's history1 n8 X. O4 y) H$ ^: M/ ]3 `
Edmonton Journal
+ [1 }1 W5 @/ Q. M! [3 x s) fPublished: 12:09 pm
4 ~1 I) \7 s( M' ~2 g, ^2 bEdmonton-area home prices fell by almost $10,000 in August - the deepest drop in this city's history.* A$ Q& Z& F) h* Y/ @
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The August average of $344,792, for all forms of housing, was down 2.8 per cent from July.9 z5 G5 @' ~' V9 e& W# a
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Inventory rose to a record level of 9,185 listings with 4,331 homes newly listed during the month and only 1,229 sold.' g/ c1 u( R, W R9 G3 {
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One year earlier, inventory was just 2,138 units.
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; d3 i9 `8 T1 E# L3 y1 Q R' KWhile sellers have lost the luxury of bidding wars, "buyers have a lot of choice," said Carolyn Pratt, president of the Realtors Association of Edmonton - which released the figures, Wednesday.
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+ b) `2 `1 B) n% k$ w8 ~5 t1 R7 BAverage 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.! Z, o9 Y3 ?" Z' T& |
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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.
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% v ~9 J) Q9 B- z: V" b5 m© Edmonton Journal 2007 |
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