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Edmonton housing prices have largest one-month drop in city's history: S1 |1 F8 D, ] t
Edmonton Journal8 P+ S. k1 v, t' P; k3 i' p
Published: 12:09 pm# W/ Q- L' t! N& X& b
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.
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: c2 ]' m( ?7 G7 x! aInventory 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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" u6 S3 _ l! L- S, @One year earlier, inventory was just 2,138 units.( L# I6 W9 |1 Y9 z4 W
8 F1 H Q& b: x) z- V+ |+ AWhile 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.+ N) }9 W" {- ]( Z. {- v9 P
& f }1 |; X) z! x* R, SAverage 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.0 w7 _5 z# N* V) F& v4 a' }6 R H
L% H6 D6 p. s% @6 J" yPercentage-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 $10,720.
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5 a2 h0 V$ Z9 |) ^+ U P n© Edmonton Journal 2007 |
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