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Edmonton housing prices have largest one-month drop in city's history
# T i/ q4 u$ t l' zEdmonton Journal! o( z! I U+ J- X O0 v+ w) a9 x
Published: 12:09 pm
* D7 x1 k1 g# j" G% gEdmonton-area home prices fell by almost $10,000 in August - the deepest drop in this city's history.9 d5 k7 u; R# U, M/ @
1 T3 h- Y9 C: C$ VThe August average of $344,792, for all forms of housing, was down 2.8 per cent from July.! c7 _( w( ~3 J3 Q. Z
, W; z. Q+ `. }' h- P: oInventory rose to a record level of 9,185 listings with 4,331 homes newly listed during the month and only 1,229 sold.
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One year earlier, inventory was just 2,138 units.& B9 U4 i1 M2 a: A
; v* C" Y$ E5 C ~5 U+ sWhile 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.. G5 r. Y0 C# A: L- g/ Q
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Average prices of single-family homes fell 3.2 per cent, in August, to $403,757. That rolls them back to the levels of March and April. But they're still up 27.6 per cent from 12 months earlier.
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- l! w0 A$ o3 T+ u& TPercentage-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 $10,720.
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( t; T$ I' L( r! B- Z; A' {© Edmonton Journal 2007 |
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