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Edmonton housing prices have largest one-month drop in city's history
' `5 u/ u5 H, gEdmonton Journal
- x q; p A3 W8 G5 u, F4 K3 zPublished: 12:09 pm
: |4 f* v& P; FEdmonton-area home prices fell by almost $10,000 in August - the deepest drop in this city's history.( }. ^+ k- {1 l7 P
& Z) u6 N' g5 I! `4 r, D9 t; y% VThe August average of $344,792, for all forms of housing, was down 2.8 per cent from July.# H* S- H& \4 s; O S
! x' b' h. j4 C! ^/ IInventory rose to a record level of 9,185 listings with 4,331 homes newly listed during the month and only 1,229 sold.2 O- Y4 o& ]9 U0 g1 g7 ?5 G
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$ F# E, s) K3 r4 b7 T U KOne year earlier, inventory was just 2,138 units.
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4 s0 N$ q- j0 Z5 j8 {* t. k6 DWhile 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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Average prices of single-family homes fell 3.2 per cent, in August, to $403,757. That rolls them back to the levels of March and April. But they're still up 27.6 per cent from 12 months earlier.4 Z2 |2 e+ f9 Y: K) C4 R. w
7 Y$ e1 k- {1 U3 E. j! [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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© Edmonton Journal 2007 |
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