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Edmonton housing prices have largest one-month drop in city's history, i4 \# I- r- k) J: J/ O
Edmonton Journal
2 @9 w" t% U9 P7 |/ [/ WPublished: 12:09 pm
; D+ `, p+ O& CEdmonton-area home prices fell by almost $10,000 in August - the deepest drop in this city's history.0 G2 ^+ I; i, g+ X
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The August average of $344,792, for all forms of housing, was down 2.8 per cent from July.
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9 K1 O; ^, c/ j" b& J2 ? v. N- } r- OInventory 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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0 ?+ S2 T/ A3 x5 {, y' n. GOne year earlier, inventory was just 2,138 units.2 ]( d( ^! y* [+ {
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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.
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+ t, A4 E, x8 G! [" yAverage 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.6 X/ o* U% ]2 b V
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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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© Edmonton Journal 2007 |
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