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Edmonton housing prices have largest one-month drop in city's history9 |* l( v- S, Q& I! R
Edmonton Journal7 h+ Q, s3 W3 v
Published: 12:09 pm
- Q6 t3 b$ |- G9 O- \Edmonton-area home prices fell by almost $10,000 in August - the deepest drop in this city's history., C5 l/ e# A3 r, ?5 U4 l
8 M# B' N& ?, i& sThe August average of $344,792, for all forms of housing, was down 2.8 per cent from July.
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Inventory rose to a record level of 9,185 listings with 4,331 homes newly listed during the month and only 1,229 sold.# ~3 o! H. C2 {- s
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1 ~4 H% g) Z q$ i4 wOne 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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% y- O( o3 y; m: \( H4 u" o% kAverage prices of single-family homes fell 3.2 per cent, in August, to $403,757. That rolls them back to the levels of March and April. But they're still up 27.6 per cent from 12 months earlier. ^2 n* w$ x( W2 g' b" Q) 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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( y: u( g# `% X' A4 Y© Edmonton Journal 2007 |
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