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Edmonton housing prices have largest one-month drop in city's history
! _% P4 u$ i8 Q' \$ }6 G2 h2 u: cEdmonton Journal
- N# n7 u9 k" |7 t5 xPublished: 12:09 pm
; |: N1 L3 D* K y# N; e$ fEdmonton-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." v' e- y3 A1 ] z
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One year earlier, inventory was just 2,138 units.
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( l- ?8 {' N1 ~3 X! y% @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.
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( o& k5 _+ P1 ^! [+ MAverage prices of single-family homes fell 3.2 per cent, in August, to $403,757. That rolls them back to the levels of March and April. But they're still up 27.6 per cent from 12 months earlier.4 S6 A; S1 n; Z: u$ y) _
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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 $10,720.
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, m" R1 Q; x% o% @$ |3 l0 Q/ F© Edmonton Journal 2007 |
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