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Edmonton housing prices have largest one-month drop in city's history4 o! w8 D0 n8 t/ S; C" ^! c# O$ E
Edmonton Journal8 z( N) H m" l( g; [
Published: 12:09 pm
/ |7 `2 U* E3 j. QEdmonton-area home prices fell by almost $10,000 in August - the deepest drop in this city's history.
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S: S8 o0 u) z' D! L( u; n. }0 XThe August average of $344,792, for all forms of housing, was down 2.8 per cent from July.
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. B! n" v8 M! _5 u X9 BInventory 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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" d* c7 q1 B* z2 L3 ZOne year earlier, inventory was just 2,138 units.6 y3 N% V U c0 U% j
% l, M& E/ K& v5 V0 Z# \: B2 c0 b* dWhile 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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! S( ~0 t3 J2 U1 d1 \Average prices of single-family homes fell 3.2 per cent, in August, to $403,757. That rolls them back to the levels of March and April. But they're still up 27.6 per cent from 12 months earlier.6 J# K$ G+ c; a1 P* C- Q
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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 $10,720.
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% J |7 t# {* C$ ]5 z! Q& M© Edmonton Journal 2007 |
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