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Edmonton housing prices have largest one-month drop in city's history
u7 `# |4 ?4 [! _, tEdmonton Journal
- Y' |6 y8 Y0 j' p1 X8 O$ Q% @Published: 12:09 pm
! c2 A5 ~( s# f3 S) ^. Z qEdmonton-area home prices fell by almost $10,000 in August - the deepest drop in this city's history.
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4 z. b" `3 l6 b1 m- X* ? {The August average of $344,792, for all forms of housing, was down 2.8 per cent from July.
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Inventory rose to a record level of 9,185 listings with 4,331 homes newly listed during the month and only 1,229 sold.
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" g/ B+ b8 D* W3 b2 [One year earlier, inventory was just 2,138 units.
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8 {0 ?$ j6 d; N% ^0 C& D8 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.
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Average prices of single-family homes fell 3.2 per cent, in August, to $403,757. That rolls them back to the levels of March and April. But they're still up 27.6 per cent from 12 months earlier.
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& q! H7 W& c9 d6 ~0 _$ f0 `6 APercentage-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 $10,720.! E$ T. N( G! H7 R; y& q
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© Edmonton Journal 2007 |
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