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Edmonton housing prices have largest one-month drop in city's history! R& o3 d5 R7 A9 {- a6 q
Edmonton Journal- C* N, {* K) P' i2 o- q
Published: 12:09 pm4 o" {/ O3 ^" ?
Edmonton-area home prices fell by almost $10,000 in August - the deepest drop in this city's history.& B/ c5 i7 r0 v: R' e" Q- F0 T
8 _/ u& C6 J# L+ W7 L' g) NThe August average of $344,792, for all forms of housing, was down 2.8 per cent from July.1 L ~/ C/ p0 l; o \* X. }, p
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Inventory rose to a record level of 9,185 listings with 4,331 homes newly listed during the month and only 1,229 sold.
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One year earlier, inventory was just 2,138 units.4 D( l. `* {, U
5 A9 h% Z2 r$ R* ]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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) n- A) h- o* uAverage prices of single-family homes fell 3.2 per cent, in August, to $403,757. That rolls them back to the levels of March and April. But they're still up 27.6 per cent from 12 months earlier.3 A' V; m0 u4 u9 V$ ]# g+ |
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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 $10,720.
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9 R% S4 ]7 N0 p: A$ K© Edmonton Journal 2007 |
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