House prices experienced their steepest monthly decline for more than three years, with wet weather and the Olympics contributing to the fall, according to a new report.
The average cost of a home in Scotland was down 1.2% in August to £143,867, making it the biggest monthly fall in prices since March 2009.
Despite the decrease, experts said there was room for cautious optimism as the figures could just be "a blot on the copy book of recovery".
The average house price was down 2.1% on August last year, the latest LSL/Acad Scotland House Price Index shows. It means the cost has now returned to its November 2009 figure, at the time when prices were recovering from the housing crisis of 2008.
Richard Sexton, director of e.surv chartered surveyors, part of LSL, said: "The headline figures suggest the housing market is slipping back into the deep hole it found itself in during 2009, but it isn't time to start ringing the alarm bells just yet. There were 'freak' factors in play over the summer which affected August prices: various summer events and the torrent of rainfall.
"The market hasn't suddenly become a lot weaker. First-time buyer numbers are up 9% so far on last year, demand is still strong, and high loan-to-value mortgages are more widely available. August should prove to be just a blot on the copy book of recovery."
Mr Sexton said there was a longer term feeling of "cautious optimism", with this year seeing a tentative recovery in first-time buyer numbers. However, he said it was a "fragile recovery" which could be shattered by a sharp downturn in the economy.
Of the 32 local local authority areas, 10 have seen prices rise and 22 have seen falls over the year. Clackmannanshire and Eilean Siar experienced the highest price increases while West Dunbartonshire saw the biggest decline. Edinburgh remains the most expensive area, with the average home costing £219,918 - up £4,896 on last year.
Dr Peter Williams, chairman of housing market analysts Acadametrics, said: "Why the dramatic fall in prices this August? To some extent it is too early to say based on only one month's data. There are however two exceptional factors this year.
"The first is the Olympics, which will have taken up many people's spare time, resulting in fewer property transactions in August and September. The second factor is the weather, which according to the Met Office was wetter than normal in July. Rain tends to deter purchasers of second homes who might otherwise be tempted to buy some of the more expensive properties on the market; this might explain the subdued level of prices in the area."
