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Edmonton housing prices have largest one-month drop in city's history
+ P) \' L+ e% gEdmonton Journal0 a; {4 z# |6 L: r
Published: 12:09 pm6 ^ b+ f; w: V# R6 V
Edmonton-area home prices fell by almost $10,000 in August - the deepest drop in this city's history.
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9 B( i) y$ a! p* q$ nThe August average of $344,792, for all forms of housing, was down 2.8 per cent from July.
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Inventory rose to a record level of 9,185 listings with 4,331 homes newly listed during the month and only 1,229 sold.
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- ]% R* ?' J2 C$ QOne year earlier, inventory was just 2,138 units./ S0 V+ T: y6 e& `7 b7 K
* s' a3 {! A3 d" b" @+ {! u7 YWhile 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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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.. m- }* M( u8 b. n* [" d
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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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© Edmonton Journal 2007 |
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