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Edmonton housing prices have largest one-month drop in city's history
. b8 m$ Y% X; _! CEdmonton Journal2 @5 L+ T5 V( P p9 ]
Published: 12:09 pm
- J* K6 m/ A8 B5 C3 T8 CEdmonton-area home prices fell by almost $10,000 in August - the deepest drop in this city's history.
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The August average of $344,792, for all forms of housing, was down 2.8 per cent from July.
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: w, {$ j9 Q( U3 X6 J7 a: }* G7 ^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 H' k2 _7 P1 N* p
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7 q# X$ M$ l. r8 YOne year earlier, inventory was just 2,138 units.
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# q! I& t$ T& i4 Q% kWhile 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.! t3 e8 i% L4 j6 `! f0 f5 b
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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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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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© Edmonton Journal 2007 |
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