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Edmonton housing prices have largest one-month drop in city's history1 k' @; q) X8 T) c+ [& x1 N
Edmonton Journal
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! P' I7 _. b) w7 ? sEdmonton-area home prices fell by almost $10,000 in August - the deepest drop in this city's history.) S; p6 K4 x7 h6 s: R G& X' h6 }* f
0 W4 g E' t+ n, E9 ]8 G( B( l/ tThe August average of $344,792, for all forms of housing, was down 2.8 per cent from July.
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~: ~; Z! c: y7 FInventory rose to a record level of 9,185 listings with 4,331 homes newly listed during the month and only 1,229 sold.- H }* L4 v8 e
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8 @1 J M" B+ m: r9 { _1 SOne year earlier, inventory was just 2,138 units.1 w3 l# X; N' l. V2 ]9 ]
# \; J" i: m; T' Z4 s8 y, z' VWhile 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.9 ?: c0 T! C1 C
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Average prices of single-family homes fell 3.2 per cent, in August, to $403,757. That rolls them back to the levels of March and April. But they're still up 27.6 per cent from 12 months earlier.% D" S4 `8 W& W& F: \
* v$ u5 M* l9 A1 mPercentage-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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7 b/ l4 |5 h' k, k1 x# \' P© Edmonton Journal 2007 |
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