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Edmonton housing prices have largest one-month drop in city's history+ l7 P A8 v/ ~
Edmonton Journal( t/ z! [4 Y( P: e2 M7 W" p
Published: 12:09 pm
' H3 I v* Q: _* k$ b9 F9 e, wEdmonton-area home prices fell by almost $10,000 in August - the deepest drop in this city's history./ h4 v5 n0 q0 g% Y+ d8 p- m
( M2 p; {" W+ G B/ A$ y0 ^+ ]The August average of $344,792, for all forms of housing, was down 2.8 per cent from July.5 J8 q0 H: \7 ]1 I: S" {, v5 V
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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.( r0 E' o1 {9 V8 }
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One year earlier, inventory was just 2,138 units., L# p* q* o* w6 U. N) ~
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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.2 @7 I% R/ `7 a6 U0 y/ `
# v. k' s+ z/ q# G, jAverage 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.* z |- t0 K J4 @ o
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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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! Q4 U' w; T, o3 L+ z: M© Edmonton Journal 2007 |
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