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Edmonton housing prices have largest one-month drop in city's history
5 G' v0 p% ?3 k1 L, PEdmonton Journal
9 j: G6 u4 u6 kPublished: 12:09 pm
9 c5 I; S' N) n# u aEdmonton-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.* N! Q. m( ~ j
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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.: k/ F3 ~+ J& B! b! I" f+ N s
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9 @, Z" n3 o( k0 f- [One year earlier, inventory was just 2,138 units.6 A- w# a0 J' |# J) |
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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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' v9 {: k9 c) f3 | tAverage 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.; l. e6 q! } Z7 a" ]! |
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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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© Edmonton Journal 2007 |
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