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Edmonton housing prices have largest one-month drop in city's history
$ u( k0 N/ L% h2 \6 |8 TEdmonton Journal1 t1 k0 m5 H+ m3 r3 _$ {1 l
Published: 12:09 pm3 n; S( F1 a) J- _' n
Edmonton-area home prices fell by almost $10,000 in August - the deepest drop in this city's history.8 [7 `! Q- x1 U" A* J) I0 b
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The August average of $344,792, for all forms of housing, was down 2.8 per cent from July.% n5 _: [( c' R8 C. e
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Inventory rose to a record level of 9,185 listings with 4,331 homes newly listed during the month and only 1,229 sold.$ A% E2 s H1 {4 \5 u- l
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% F( i( a8 U+ d% A# P: E+ W3 E; ?One year earlier, inventory was just 2,138 units.
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9 p `% M/ N* h. _2 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.
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. D2 w; v! v7 o9 uAverage 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.- g; V. V- t: a# b* n, _
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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 $10,720.
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$ T6 [( m( j! p© Edmonton Journal 2007 |
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