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Edmonton housing prices have largest one-month drop in city's history
" I/ `; Q$ C2 TEdmonton Journal
( F1 y6 v# ^1 @# C3 _Published: 12:09 pm1 S, G+ n8 x. k0 l+ F
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 $344,792, for all forms of housing, was down 2.8 per cent from July.- z, F0 L! ~# Y0 u
; m2 e+ Q( O! _$ @: [' m, lInventory rose to a record level of 9,185 listings with 4,331 homes newly listed during the month and only 1,229 sold.0 m+ D+ b" Y5 v
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4 j; w( u/ o6 H0 vOne year earlier, inventory was just 2,138 units.
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F9 |: C' C. Z ~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.( H5 L/ E( D9 Z& M: \: \% q
6 g: ?# ~) M9 Q, \Average prices of single-family homes fell 3.2 per cent, in August, to $403,757. That rolls them back to the levels of March and April. But they're still up 27.6 per cent from 12 months earlier.
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# u& J; `$ A% Y$ d9 K8 q# m7 ]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 $10,720.; z6 B# Q/ Z7 V% r
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0 e# F* S$ p! }2 j2 u ?% j© Edmonton Journal 2007 |
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