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Edmonton housing prices have largest one-month drop in city's history7 a7 j- W* K$ W& \# c. y
Edmonton Journal
" d U7 K1 J* [9 ^: I* r9 ~; bPublished: 12:09 pm
7 a# Y6 v( k2 ]- ~Edmonton-area home prices fell by almost $10,000 in August - the deepest drop in this city's history. m5 R5 i% t4 L9 z2 i. O
% d1 B2 `5 B$ g/ c. [+ RThe August average of $344,792, for all forms of housing, was down 2.8 per cent from July.0 X9 |! Y7 j, x0 \! q# q
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Inventory rose to a record level of 9,185 listings with 4,331 homes newly listed during the month and only 1,229 sold.9 ?) }/ l5 E# D6 h7 @# ~
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One year earlier, inventory was just 2,138 units.8 Z I3 ]- I- B S/ L) G
/ P. t2 B$ F2 dWhile 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.3 p) b/ v1 B4 }
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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 $10,720.6 N w6 u/ [( Z! n# i: M, m& E
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© Edmonton Journal 2007 |
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