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Edmonton housing prices have largest one-month drop in city's history/ D* W+ Z& ^5 l% Q) T e
Edmonton Journal5 F0 r8 P6 M+ d6 q' o$ z6 g) R
Published: 12:09 pm
* Z1 c" n" u8 w3 b, B: M2 Q/ P# g1 YEdmonton-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 $344,792, for all forms of housing, was down 2.8 per cent from July.+ o0 i: I, y: `- i6 V
, A& \8 e( L$ {( Q% yInventory 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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2 S6 F) @6 S* XWhile 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./ N4 Y8 v3 b7 L6 \6 N. j
* ]+ P& F# A+ |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.
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% V* r) r* k9 n© Edmonton Journal 2007 |
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