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Edmonton housing prices have largest one-month drop in city's history
9 U" E, i9 D' F$ D$ b5 mEdmonton Journal. W6 ~$ t, N& j5 h0 ^2 Y
Published: 12:09 pm
" U7 l% p( g c1 oEdmonton-area home prices fell by almost $10,000 in August - the deepest drop in this city's history.1 x* h: I& d- I8 k( R+ F/ E
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The August average of $344,792, for all forms of housing, was down 2.8 per cent from July.
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3 m4 n& W$ z8 a6 @# E7 j2 B+ kInventory rose to a record level of 9,185 listings with 4,331 homes newly listed during the month and only 1,229 sold.9 B. z( |* L: C4 w# c
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9 |! v9 j5 k: dOne year earlier, inventory was just 2,138 units.( ?/ N1 N0 [8 d* G9 m' S$ F
$ Z/ j; q8 _$ X1 }' A. IWhile 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 $403,757. That rolls them back to the levels of March and April. But they're still up 27.6 per cent from 12 months earlier.- H. A8 j* b/ \$ g8 q
j$ E0 P' o; ]& Q, RPercentage-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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