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Edmonton housing prices have largest one-month drop in city's history
7 h3 _2 ] @- l$ x0 d+ UEdmonton Journal
; _8 U) @5 H, S; i& m. s& QPublished: 12:09 pm$ |+ Y+ P6 a! ~0 b$ A9 ?
Edmonton-area home prices fell by almost $10,000 in August - the deepest drop in this city's history.
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r$ ?$ `; s% Y8 {. {5 R5 m7 ^: L* uThe August average of $344,792, for all forms of housing, was down 2.8 per cent from July.
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6 ^+ V# O y; P0 C* ]Inventory rose to a record level of 9,185 listings with 4,331 homes newly listed during the month and only 1,229 sold. @! p3 q' U7 c i, W- d( b9 s- ^
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One year earlier, inventory was just 2,138 units.9 m" |: G+ u5 K# H3 j5 Y$ s9 w
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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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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.
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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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# U" w. n) y- R7 d2 o© Edmonton Journal 2007 |
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