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Edmonton housing prices have largest one-month drop in city's history
! P1 {1 ?* r! O$ ^2 J `Edmonton Journal* r. O! a6 N# s
Published: 12:09 pm
5 Q# F1 I# ]% I2 V% @2 z3 Z& QEdmonton-area home prices fell by almost $10,000 in August - the deepest drop in this city's history.
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+ {; U" ~: s" ^6 g |& K cThe August average of $344,792, for all forms of housing, was down 2.8 per cent from July.( ]" F- f: p" ]* n4 z$ M
2 c* _# b* w" j2 o; t. I, O* BInventory 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.
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0 `' ~: i" m7 Z4 X' vWhile 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.7 y. l2 A7 Y, ?5 B
D X; K; u' AAverage 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.
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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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5 a% S; _% x" |+ q© Edmonton Journal 2007 |
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