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Edmonton housing prices have largest one-month drop in city's history! Q+ f) D! D3 G. E3 k
Edmonton Journal
7 _9 r" [+ I: _ y( U/ {Published: 12:09 pm/ L& U& t9 L- z+ ]+ Q1 j' u
Edmonton-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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Inventory rose to a record level of 9,185 listings with 4,331 homes newly listed during the month and only 1,229 sold.' _3 A3 d2 w) z3 c. G
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7 n, E# O2 L- t" F. A4 t: j; T" EOne year earlier, inventory was just 2,138 units. N& F, W! s* O! P9 G1 @6 m
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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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* B6 K0 J5 J1 N9 j% @6 s! d0 O4 ?1 tAverage prices of single-family homes fell 3.2 per cent, in August, to $403,757. That rolls them back to the levels of March and April. But they're still up 27.6 per cent from 12 months earlier.
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& S& a' B9 w1 g. v: o3 t( y' V$ @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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