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Edmonton housing prices have largest one-month drop in city's history: i1 _; [, i5 S- O& ~
Edmonton Journal8 k/ \5 r- c7 a* v. N
Published: 12:09 pm
: X' L6 o& n- d, ?$ ~3 REdmonton-area home prices fell by almost $10,000 in August - the deepest drop in this city's history.
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- j4 ^! b8 l2 Z, C7 K1 UThe 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.. C# ^* c# v3 x g2 [
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1 c; U B: z" L; N; H( wOne year earlier, inventory was just 2,138 units.
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9 b4 u) W/ f" ^; y1 uWhile 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 $10,720.5 M$ |0 G, q" x4 Z$ D; S0 r
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9 `4 [# n3 x( U. B d; K$ c+ [© Edmonton Journal 2007 |
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