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Edmonton housing prices have largest one-month drop in city's history: s X/ k' j3 }" Y( J4 U& j4 ^
Edmonton Journal
4 t+ K3 z; R# L; dPublished: 12:09 pm
, w ]$ ?$ m/ e# o& LEdmonton-area home prices fell by almost $10,000 in August - the deepest drop in this city's history.2 r' e% ?6 E: |: ?# E( p
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The August average of $344,792, for all forms of housing, was down 2.8 per cent from July.
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Inventory rose to a record level of 9,185 listings with 4,331 homes newly listed during the month and only 1,229 sold.* R. F0 e# L; g; u# t- m+ H
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9 p {( W9 n( A' f+ R# A$ d( P1 `% h5 hOne year earlier, inventory was just 2,138 units.! G/ ^) D( u. ^0 G% i/ D: P6 t K
+ e# s3 L5 ? a( b4 N% z# D! y# GWhile 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.+ e2 r0 v2 M, }
. @% M4 Q* {4 M" S: `( V7 YPercentage-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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) `( v* `5 {; Z- P4 k© Edmonton Journal 2007 |
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