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Edmonton housing prices have largest one-month drop in city's history
8 }/ ^$ [, O* \Edmonton Journal8 ^& J/ M1 i6 O& K7 \$ V
Published: 12:09 pm
& ]6 I! Z. |9 N1 |Edmonton-area home prices fell by almost $10,000 in August - the deepest drop in this city's history.5 | L- N; M$ Z9 G
/ D0 \7 G4 Y' g) h* h; Z: |5 v' GThe August average of $344,792, for all forms of housing, was down 2.8 per cent from July.# g/ \$ y8 t( q; Q ^0 T
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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.
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One year earlier, inventory was just 2,138 units.
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" q" c! C! Q; z6 W. u% M1 C. oWhile 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.+ G ~' C) u! z' C( t; q% s# l
- W7 Y/ G2 P% K' ~ B, dAverage 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.; c# ^) D: R) ~ e0 r) B' u
: n) n" k! u& z) SPercentage-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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& K/ l+ A* ~( Y© Edmonton Journal 2007 |
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