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Edmonton housing prices have largest one-month drop in city's history8 u# Z4 T+ H6 C
Edmonton Journal; k7 Y {& O9 i" u7 ]: w2 A
Published: 12:09 pm
6 y9 X" M: G. ~0 \Edmonton-area home prices fell by almost $10,000 in August - the deepest drop in this city's history." d# A; z* \+ A
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The August average of $344,792, for all forms of housing, was down 2.8 per cent from July.
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$ i; E+ K# M$ t( g7 D. w& |Inventory rose to a record level of 9,185 listings with 4,331 homes newly listed during the month and only 1,229 sold.7 O3 c( K" R: E# z1 w' O- K; \
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One year earlier, inventory was just 2,138 units.( n! {7 N2 n/ M4 P: J( }- t- p
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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.+ v3 ` m0 P9 ` ?
3 ~! N9 D5 g( ?) aAverage 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.) n( ^2 h- o& S, v' u! h
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) d: T) u! C8 _- S/ |+ m9 i© Edmonton Journal 2007 |
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