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Edmonton housing prices have largest one-month drop in city's history
9 v4 ~/ O; n; PEdmonton Journal
8 p* I# s# B: NPublished: 12:09 pm! g! d$ u. Q, P" @
Edmonton-area home prices fell by almost $10,000 in August - the deepest drop in this city's history.
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9 l- k. H# q/ z; }- I! |The August average of $344,792, for all forms of housing, was down 2.8 per cent from July./ r% @: }6 g' w% v: _' d2 x4 u
1 O9 {& t3 X4 z& M: y5 {; F& LInventory 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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2 }& h; u7 _/ d! P6 K# L, X" yOne 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.
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O4 y; U) J7 Q# f' I/ RAverage 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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- ]) n- H3 \5 i5 M/ E© Edmonton Journal 2007 |
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