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Edmonton housing prices have largest one-month drop in city's history
3 f$ a+ y6 v2 m8 X+ m% MEdmonton Journal
* _) Q$ {$ h: d. N& \* a. sPublished: 12:09 pm! E; g! F% z! k& {
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.
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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." R1 J I0 _( e* `6 J4 H7 s0 ]
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One year earlier, inventory was just 2,138 units.
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While 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.- r, Q+ z |6 l+ P) x
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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.4 c% U6 Q( K/ P& w+ A
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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 $10,720.+ H3 A$ m" q; D7 X* o, c
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© Edmonton Journal 2007 |
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