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Edmonton housing prices have largest one-month drop in city's history& E: U+ w: o! c, ?# N! h/ U
Edmonton Journal l. u# C" {; D8 n; P; a% e
Published: 12:09 pm
( _0 C1 ]6 p) TEdmonton-area home prices fell by almost $10,000 in August - the deepest drop in this city's history.8 @( @& ?8 P b! p
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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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0 g' \( H$ s5 t* ^/ E" P0 U% R& LInventory rose to a record level of 9,185 listings with 4,331 homes newly listed during the month and only 1,229 sold.' G- W( R3 ^& m! t# I5 K; U& J9 A
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One year earlier, inventory was just 2,138 units.) N. P6 e! | z h) J
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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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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.. H' W0 L5 G2 L( i( v& K
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6 Q6 C5 ^' H* T( p1 _, x) r© Edmonton Journal 2007 |
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