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Edmonton housing prices have largest one-month drop in city's history
; P- t! `6 y iEdmonton Journal7 o( V1 r+ n3 H7 t* Q% P
Published: 12:09 pm
% H9 S0 ?/ H. S) TEdmonton-area home prices fell by almost $10,000 in August - the deepest drop in this city's history.
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7 | N9 ^* G6 g1 V0 `The August average of $344,792, for all forms of housing, was down 2.8 per cent from July./ J1 V& d. [- c9 [
: C6 T3 m1 s# v' |5 sInventory rose to a record level of 9,185 listings with 4,331 homes newly listed during the month and only 1,229 sold.
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One year earlier, inventory was just 2,138 units.
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While sellers have lost the luxury of bidding wars, "buyers have a lot of choice," said Carolyn Pratt, president of the Realtors Association of Edmonton - which released the figures, Wednesday.7 e& c+ V/ M h" a2 G) o2 P1 C! H
, u( ^6 ?' [8 }$ }$ v9 w6 ^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.; f6 w6 v( O2 v7 r3 N
, j8 K6 s5 x2 t" kPercentage-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., J1 `! U' ^- p
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% u& E- M' e1 `2 Q8 j L© Edmonton Journal 2007 |
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