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Edmonton housing prices have largest one-month drop in city's history/ @- r+ ]2 S' N' ]
Edmonton Journal
- Q, s" Y0 _; x9 F- s- S: cPublished: 12:09 pm
$ j3 r! r' K) q" k& ]3 dEdmonton-area home prices fell by almost $10,000 in August - the deepest drop in this city's history.
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. H- M3 D* t7 M6 u; D! J- |The August average of $344,792, for all forms of housing, was down 2.8 per cent from July.! \: a R9 Y. x7 Y& L, F$ ]
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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.1 j. W9 ]7 \* e3 R* P( e- m
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One year earlier, inventory was just 2,138 units.
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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." b4 t$ g% A- e6 b" O: J
' L+ ?7 W, n$ X% ?5 H7 n; mAverage 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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© Edmonton Journal 2007 |
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