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Edmonton housing prices have largest one-month drop in city's history! @4 j9 z2 F C& |2 z
Edmonton Journal N i/ J S' {2 \
Published: 12:09 pm
+ o) n# \( V' M. y wEdmonton-area home prices fell by almost $10,000 in August - the deepest drop in this city's history.
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2 ~/ o" ?6 t2 uThe August average of $344,792, for all forms of housing, was down 2.8 per cent from July.9 F- r; K" \: e G
9 |- G& ~" J) V1 H- G9 {Inventory rose to a record level of 9,185 listings with 4,331 homes newly listed during the month and only 1,229 sold.# S4 e; [3 _! }( a
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2 ~8 g6 ^' Z+ s# v6 f% V1 Q9 xOne year earlier, inventory was just 2,138 units.' L: Y* m; ~# P* m. p) u
) d, @' S: O4 ~; r1 FWhile 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.7 P+ f" m& J s# C
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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., V) C6 R, F: [/ N! [8 B
A1 r' C8 S5 ]- r: g! p1 w7 yPercentage-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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1 _2 }( Y, l5 w. t© Edmonton Journal 2007 |
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