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Edmonton housing prices have largest one-month drop in city's history7 p( `: l7 n, N! r5 V. L) q
Edmonton Journal; v' O: R+ F+ Z
Published: 12:09 pm ]- r, ]6 S6 m, D' e, j" r! ~
Edmonton-area home prices fell by almost $10,000 in August - the deepest drop in this city's history.5 T$ h6 W8 Z2 e( F
& k' V" T3 S; G! ^; d! o' kThe August average of $344,792, for all forms of housing, was down 2.8 per cent from July.; x1 _* { y; G- ]/ F
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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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7 c" T" z+ l5 w5 }- y- cOne year earlier, inventory was just 2,138 units.
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, d9 b) f6 r H5 AWhile 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.
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Average prices of single-family homes fell 3.2 per cent, in August, to $403,757. That rolls them back to the levels of March and April. But they're still up 27.6 per cent from 12 months earlier.5 g7 q$ `% Q8 O6 f; O& M1 } b
$ p: |$ q2 @' R; ePercentage-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.
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' h/ s. C0 |5 k* H7 x. H3 g3 Q© Edmonton Journal 2007 |
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