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Edmonton housing prices have largest one-month drop in city's history! v; o$ E0 P( P- U8 m
Edmonton Journal
- v$ D8 ?( u/ G; i, kPublished: 12:09 pm
; K7 i6 w' `/ v; Y' z. [, A+ @Edmonton-area home prices fell by almost $10,000 in August - the deepest drop in this city's history./ |% S7 D" E, s" ?
/ N+ C" v* ^6 aThe August average of $344,792, for all forms of housing, was down 2.8 per cent from July.
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Inventory rose to a record level of 9,185 listings with 4,331 homes newly listed during the month and only 1,229 sold.
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One year earlier, inventory was just 2,138 units.
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5 E( x, c3 o: }/ P8 q2 |While sellers have lost the luxury of bidding wars, "buyers have a lot of choice," said Carolyn Pratt, president of the Realtors Association of Edmonton - which released the figures, Wednesday.) X# r; r1 l% u- ]$ J
. @/ U( E$ Q# Y; F# E; I3 GAverage 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.; C5 R; ?0 w6 }; B! g
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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 $10,720.5 Y0 O# q. G4 d0 j+ U: W( {
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L, I" H# X: m© Edmonton Journal 2007 |
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