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Edmonton housing prices have largest one-month drop in city's history, b; p4 m3 h5 o; v6 l' Y2 l& T
Edmonton Journal( V- }5 I, F+ I/ v1 X
Published: 12:09 pm0 j6 J3 P* G% z( H/ p' N8 D- ^
Edmonton-area home prices fell by almost $10,000 in August - the deepest drop in this city's history.( m% B8 r1 r4 }1 U* Y7 ]
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The August average of $344,792, for all forms of housing, was down 2.8 per cent from July.. ]5 e5 _3 O+ u
6 Z o- P5 x+ c' V! V+ H' L; OInventory rose to a record level of 9,185 listings with 4,331 homes newly listed during the month and only 1,229 sold.' V, q4 B- d: i! t6 W! [
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One year earlier, inventory was just 2,138 units.
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8 h5 _0 F# L# bWhile 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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Average 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." n; X# `& D! F* J3 G0 I& Z
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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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6 E1 d# H, L. h6 q) E9 z( f0 f© Edmonton Journal 2007 |
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