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Edmonton housing prices have largest one-month drop in city's history, J% C6 K( e: h* N; \
Edmonton Journal
! ^7 v/ i) S; u3 J; x- w! C' ZPublished: 12:09 pm# m5 ] R1 `! \% i' m+ d
Edmonton-area home prices fell by almost $10,000 in August - the deepest drop in this city's history.# W$ G5 b( X) X i: K" d
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The August average of $344,792, for all forms of housing, was down 2.8 per cent from July.6 r$ Q& S" X ]! Z5 d
. M! H. k- t3 g3 ^$ DInventory 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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! m' E( y# m" {1 c6 N9 u$ V: I, wOne year earlier, inventory was just 2,138 units.
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& t2 e- F% N/ i @* D' xWhile 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 C; i9 f6 a7 T$ `
( k) `! ^1 b8 _4 rAverage prices of single-family homes fell 3.2 per cent, in August, to $403,757. That rolls them back to the levels of March and April. But they're still up 27.6 per cent from 12 months earlier.$ X9 m$ E& f. ^& k3 B; t& j
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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./ E* Z' I4 o# K: J
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! W0 T; s& `# |) J5 j© Edmonton Journal 2007 |
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