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Edmonton housing prices have largest one-month drop in city's history
( j5 M9 l+ P8 Y3 qEdmonton Journal4 K: a+ j7 l3 L
Published: 12:09 pm
2 @" O. {( x4 s* `1 j% { t. }9 hEdmonton-area home prices fell by almost $10,000 in August - the deepest drop in this city's history.8 N2 m/ O* z% W, b) I& v
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The August average of $344,792, for all forms of housing, was down 2.8 per cent from July.2 y( m) H7 n, s/ ~0 h3 U" S
8 W1 M" Z/ T- c; j. x7 }Inventory rose to a record level of 9,185 listings with 4,331 homes newly listed during the month and only 1,229 sold.* o) e2 Q3 M+ @; q7 Z B
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One year earlier, inventory was just 2,138 units.$ {, k6 Y q' C( A
# }2 `( W# }+ n' Q! Y# iWhile 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.- x( i2 e+ i7 d: j9 \
# h" g3 i" j* i9 {1 @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.9 N% p; h5 {5 w% m0 k
5 H! X; D& M L3 V, lPercentage-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.' r( Z7 ^2 Y" @
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© Edmonton Journal 2007 |
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