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Edmonton housing prices have largest one-month drop in city's history% Y2 v7 C9 i2 {
Edmonton Journal
: H) u6 r! r! ^/ a% ]$ iPublished: 12:09 pm
- O1 P _5 m g, `, EEdmonton-area home prices fell by almost $10,000 in August - the deepest drop in this city's history.3 k3 v& Q- P( T
) S- p$ r: ~+ ~' _1 ^The 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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" W4 A! w. O8 [& x4 Z3 W0 |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. S9 ^9 z0 I: m6 f! ^( a
8 ^% T* K7 Z( A. j& r; {' }: P9 dAverage 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.
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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.
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5 ^7 i: L* c4 W* T% l a© Edmonton Journal 2007 |
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