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Edmonton housing prices have largest one-month drop in city's history
2 g' L' K2 ?1 M/ o* OEdmonton Journal
G p( [) s7 h' o& |! EPublished: 12:09 pm; A/ q. ~" j$ }: \+ J+ W+ A: W1 u
Edmonton-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 $344,792, for all forms of housing, was down 2.8 per cent from July.) N' C Q3 s2 w Y2 O
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Inventory rose to a record level of 9,185 listings with 4,331 homes newly listed during the month and only 1,229 sold.
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! f* N3 g8 b' W+ jOne year earlier, inventory was just 2,138 units.
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0 `! L; Z7 v$ j6 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.6 R0 U8 p9 e/ y0 M
. D" Z) I# P5 jAverage 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, ?! F- @2 Q% {& g1 c: S
8 {/ ]. G- r' b' wPercentage-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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2 p( d8 y+ e+ C" t/ _1 N8 v© Edmonton Journal 2007 |
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