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Edmonton housing prices have largest one-month drop in city's history
/ g) |/ y. N! J0 U3 ]' nEdmonton Journal" S2 ^9 M, f5 |# i$ n D
Published: 12:09 pm! x& q& L* @9 c0 ?3 ~
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.8 n, e/ G! e/ x4 E
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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 F# Y1 Y& f/ c3 ?% y6 A @" G3 R
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z0 t" ], T* s6 m8 L, B: ROne year earlier, inventory was just 2,138 units.7 Y1 J5 \5 ~; `' F
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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.3 w/ ]( A! M, q( Y3 [0 T
* Z' R/ R0 `6 a% w0 m% E* HAverage 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 $10,720.0 S- o# l: h( y) R3 r3 y
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; L& ^3 ?# F/ j3 r( i% m4 ]© Edmonton Journal 2007 |
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