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Edmonton housing prices have largest one-month drop in city's history
8 J( {+ G( i0 s8 E( t0 V, fEdmonton Journal
/ O! e# \$ g1 l4 w! s8 m1 iPublished: 12:09 pm; \+ i# p H( `, Y6 _* r% ?4 x! k& d3 ?
Edmonton-area home prices fell by almost $10,000 in August - the deepest drop in this city's history.
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) |- Z$ d. q7 s9 m, {2 G( z1 ?The August average of $344,792, for all forms of housing, was down 2.8 per cent from July.
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% P2 z# n' D# w$ RInventory 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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" R. Z! b3 [0 s nOne year earlier, inventory was just 2,138 units.
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2 R5 p, p4 H S6 v& Y! Y' j qWhile 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.$ r6 K5 q1 y6 |' N. P, ^
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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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9 t/ s7 t% K& E" q+ i3 VPercentage-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 $10,720.( d0 m+ ?6 F! z0 t# W0 y$ D
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© Edmonton Journal 2007 |
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