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Edmonton housing prices have largest one-month drop in city's history
2 r% Z2 S8 ]$ ?& g, k1 vEdmonton Journal( [$ r7 A$ g9 w
Published: 12:09 pm
) @) M, V; @* x7 n/ {9 XEdmonton-area home prices fell by almost $10,000 in August - the deepest drop in this city's history.
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The August average of $344,792, for all forms of housing, was down 2.8 per cent from July.
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+ R$ Z# |7 w" jInventory rose to a record level of 9,185 listings with 4,331 homes newly listed during the month and only 1,229 sold.$ Z, C% w. x* ~8 _
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One year earlier, inventory was just 2,138 units.
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& o( _) f# ~& {0 X! K' k xWhile 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.4 a# i4 V# J6 X) m- z% E
5 }+ e5 b- g) bAverage 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.. V7 [. i( i& y+ l0 K9 [4 ^
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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.( K6 n# j, }8 v: T* o5 H' u
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© Edmonton Journal 2007 |
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