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Edmonton housing prices have largest one-month drop in city's history
( L- b C5 [, X3 f) |Edmonton Journal2 L R+ e9 _1 }: e3 _' L$ z
Published: 12:09 pm/ ~" A: g4 I9 {& z" A' q j
Edmonton-area home prices fell by almost $10,000 in August - the deepest drop in this city's history.
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1 _# u* t7 @* y4 X- SThe August average of $344,792, for all forms of housing, was down 2.8 per cent from July.6 z' J9 V% U4 x
* D0 {; `" C! @Inventory rose to a record level of 9,185 listings with 4,331 homes newly listed during the month and only 1,229 sold./ @" {* V- @. ?2 n6 S% w
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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.* b( d+ r2 y) O6 _
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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.0 z# _7 S- x1 z `4 D6 _& ^
y* k' d! H/ v1 {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 $10,720.6 ^2 k8 v/ @4 s7 C$ Q8 j# F
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© Edmonton Journal 2007 |
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