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Edmonton housing prices have largest one-month drop in city's history9 w, j5 ?% q& o" v, R% y
Edmonton Journal& i+ C9 e# V, G! ?
Published: 12:09 pm
; d& [1 m* Q [2 t! x LEdmonton-area home prices fell by almost $10,000 in August - the deepest drop in this city's history.
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The August average of $344,792, for all forms of housing, was down 2.8 per cent from July.
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Inventory rose to a record level of 9,185 listings with 4,331 homes newly listed during the month and only 1,229 sold. J0 B+ A2 I$ J* z1 B H8 y/ C
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- M, b- z! q1 ?; h1 |/ o% ~, I3 xOne year earlier, inventory was just 2,138 units.
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$ }5 Y% s6 U" EWhile 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., Z; J1 I: q. B+ u6 B7 Q$ n
3 x6 D/ e* @3 Q0 a1 gAverage prices of single-family homes fell 3.2 per cent, in August, to $403,757. That rolls them back to the levels of March and April. But they're still up 27.6 per cent from 12 months earlier.3 P& f2 X4 e" D: u. ]; ?3 ]$ P
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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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* K& A2 l/ V( M4 d- K: }2 H( B6 C© Edmonton Journal 2007 |
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