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Edmonton housing prices have largest one-month drop in city's history
7 C" H1 W8 c6 SEdmonton Journal. P0 h4 l% k% ] ^+ R5 y
Published: 12:09 pm6 i) H$ p7 c( P* g
Edmonton-area home prices fell by almost $10,000 in August - the deepest drop in this city's history.4 m, _3 h7 A% ~
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The August average of $344,792, for all forms of housing, was down 2.8 per cent from July.
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, |$ E) B& o8 {) T( e- s0 |Inventory 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.7 D* c1 R6 Q% R* ]6 r
5 ^0 V9 @ i Z9 \$ ?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.' A6 s! f6 Z7 D1 |! m: L
4 [6 t0 n3 I2 L0 J3 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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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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/ r6 m5 d0 P4 u* R; u© Edmonton Journal 2007 |
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