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Edmonton housing prices have largest one-month drop in city's history
! t4 C4 t( B9 U) gEdmonton Journal
2 i, }" F! W1 L; q$ R2 V# sPublished: 12:09 pm# T- L4 D$ V$ o- L! n
Edmonton-area home prices fell by almost $10,000 in August - the deepest drop in this city's history.. F* U5 V3 n$ R+ G' Y: W
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The August average of $344,792, for all forms of housing, was down 2.8 per cent from July.
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Inventory rose to a record level of 9,185 listings with 4,331 homes newly listed during the month and only 1,229 sold.- u7 k+ n. Y, x+ A
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One year earlier, inventory was just 2,138 units.% B4 H6 k. u% O: W( W. U
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While sellers have lost the luxury of bidding wars, "buyers have a lot of choice," said Carolyn Pratt, president of the Realtors Association of Edmonton - which released the figures, Wednesday." N2 a3 ^( p$ v
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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.
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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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3 ~. u& {, ~3 r+ w© Edmonton Journal 2007 |
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