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Edmonton housing prices have largest one-month drop in city's history
) M. \& ~4 C; @ M3 G! cEdmonton Journal
; a6 \7 J& q9 e! ]9 J8 kPublished: 12:09 pm5 {/ F( s4 X r6 @
Edmonton-area home prices fell by almost $10,000 in August - the deepest drop in this city's history.: f8 t$ I' A; Y
1 z1 q& L' E* o$ Q1 H: j- ?The August average of $344,792, for all forms of housing, was down 2.8 per cent from July.
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! g5 [( [. k( EInventory rose to a record level of 9,185 listings with 4,331 homes newly listed during the month and only 1,229 sold.
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One year earlier, inventory was just 2,138 units.
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. h% B S4 y F) o/ \/ G$ bWhile 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.8 r- g# V. z, H, F9 ] M- m
4 S" _- M* K# ?" }2 M0 aAverage 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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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.* a/ d! [" X1 T& Y/ _" e) O! s7 Y
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© Edmonton Journal 2007 |
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