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Edmonton housing prices have largest one-month drop in city's history3 E7 }( q* \ o4 O8 a- t: X' r
Edmonton Journal ?8 n3 {7 a; Q8 t) l; Z( [3 f
Published: 12:09 pm
3 i4 [" m8 U ~; x! P0 i& eEdmonton-area home prices fell by almost $10,000 in August - the deepest drop in this city's history.
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+ n7 v7 z# {6 y: W% t% _7 `4 B$ jThe August average of $344,792, for all forms of housing, was down 2.8 per cent from July.5 d; u5 H7 |" F! l6 Z$ Y* E6 V
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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.2 X% Y# G. w; ?4 ?0 h
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" C$ ]7 b, ]5 P1 v4 qOne year earlier, inventory was just 2,138 units.
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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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6 q" P! F6 W1 C6 L% t% E9 kAverage prices of single-family homes fell 3.2 per cent, in August, to $403,757. That rolls them back to the levels of March and April. But they're still up 27.6 per cent from 12 months earlier.
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3 `$ G! V" i$ U$ W1 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 $10,720.
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! z5 C* S m$ n( a© Edmonton Journal 2007 |
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