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Edmonton housing prices have largest one-month drop in city's history4 A) C3 a9 z$ Q
Edmonton Journal, d% H- [+ e& E: M2 R6 }
Published: 12:09 pm3 j; k7 `* M5 j. K+ G S! v* V
Edmonton-area home prices fell by almost $10,000 in August - the deepest drop in this city's history.: R+ ]- Q% e1 `
4 G' F8 G0 ~8 K6 f7 vThe August average of $344,792, for all forms of housing, was down 2.8 per cent from July.# e2 Z. S$ S$ c' x9 o, h
' H6 L$ ]8 L) A- Q, x: nInventory 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.- A. _' l* S: E5 V5 q, m; L
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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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" J' c Y& Y4 L( W% L4 i4 i2 QAverage prices of single-family homes fell 3.2 per cent, in August, to $403,757. That rolls them back to the levels of March and April. But they're still up 27.6 per cent from 12 months earlier.1 q. ^. A' Q7 n0 g6 t* d
3 C0 N6 U$ F9 T3 [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 $10,720.
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8 y( n6 o$ [4 n: E5 Y© Edmonton Journal 2007 |
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