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Edmonton housing prices have largest one-month drop in city's history
4 H3 B* B ~ \& q2 b2 AEdmonton Journal
) c9 H2 D5 J2 P7 }Published: 12:09 pm: [4 d+ y! k0 ?
Edmonton-area home prices fell by almost $10,000 in August - the deepest drop in this city's history.
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5 Z" M( f1 U. z4 _The August average of $344,792, for all forms of housing, was down 2.8 per cent from July." t' _ B1 e6 ~" ~6 Z( g8 Q
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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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One year earlier, inventory was just 2,138 units.) o2 g2 Y; G1 o
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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.
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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 $10,720.& R- i1 ^( k. ~9 e, ]; l* u* m" l1 H" Y
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2 q* W, @3 Q5 j( C$ w7 V! ^© Edmonton Journal 2007 |
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