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Edmonton housing prices have largest one-month drop in city's history
, F% E1 R, I, ]) j/ r; }Edmonton Journal0 n1 a, Y! f& q/ R8 ^
Published: 12:09 pm
& x4 S& O/ G* f2 d4 EEdmonton-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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Inventory rose to a record level of 9,185 listings with 4,331 homes newly listed during the month and only 1,229 sold.6 o2 a" Y D. X, x
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One year earlier, inventory was just 2,138 units.5 b7 E* P# C# J! n ]: @" p) X5 }
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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.4 g7 j. b- M' C. k2 u [1 e
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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.
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, o6 _+ { x9 \& c" Z! n& VPercentage-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 $10,720.
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3 o! K* Y$ ?9 F1 ]1 L1 j$ P* f© Edmonton Journal 2007 |
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