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Edmonton housing prices have largest one-month drop in city's history' E2 x o P# C: ~2 F
Edmonton Journal
; s E; l0 x+ _" ?3 y% s. e& gPublished: 12:09 pm5 T s) s$ |& }. ~3 A7 a
Edmonton-area home prices fell by almost $10,000 in August - the deepest drop in this city's history.4 @9 n, e* X# F: R( p$ _( N' C) S& Z
" C6 _/ y: l7 }' B9 P) R$ @* Y# NThe August average of $344,792, for all forms of housing, was down 2.8 per cent from July.
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* y, j7 ~) C( W3 x% C, KInventory rose to a record level of 9,185 listings with 4,331 homes newly listed during the month and only 1,229 sold.; Q. I: t0 ]: @6 h
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One year earlier, inventory was just 2,138 units.: {. P4 J6 s7 N: u1 n$ ~
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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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# Z1 k; l( p+ M4 o. j. kAverage prices of single-family homes fell 3.2 per cent, in August, to $403,757. That rolls them back to the levels of March and April. But they're still up 27.6 per cent from 12 months earlier.' x* ?7 v5 r$ q. W! l
$ y) W. M6 P& @* V) i! dPercentage-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 $10,720., S0 _& N+ e2 B+ v8 c$ h( e) p
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, B$ d1 V) @, s: h6 Z- [. P© Edmonton Journal 2007 |
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