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Edmonton housing prices have largest one-month drop in city's history3 q; q4 c- J5 E; x/ r$ J
Edmonton Journal
, y3 {4 X- q( P) K3 q- y$ nPublished: 12:09 pm. I+ R( Z0 y9 y: e5 C; m7 w
Edmonton-area home prices fell by almost $10,000 in August - the deepest drop in this city's history.8 Q& i* c" M9 B5 Y$ z+ ^8 T, e
; ?+ a' t0 U& `7 jThe August average of $344,792, for all forms of housing, was down 2.8 per cent from July.
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Inventory rose to a record level of 9,185 listings with 4,331 homes newly listed during the month and only 1,229 sold.# U! i$ h- w, J
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One year earlier, inventory was just 2,138 units.
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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.8 {: A, }8 e0 `, k# e
0 D& R4 o5 T/ B% I2 E3 B6 FPercentage-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) v4 U- ^9 |4 w4 j1 X
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/ P' Q8 Z* u( J1 d4 {) F© Edmonton Journal 2007 |
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