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Edmonton housing prices have largest one-month drop in city's history. u n. M! v7 \% _0 e9 ?7 f# K
Edmonton Journal# C. \6 M' ]5 n" v2 J5 k- [
Published: 12:09 pm
0 m/ e2 l9 b4 M) D+ LEdmonton-area home prices fell by almost $10,000 in August - the deepest drop in this city's history.+ w% Y7 H1 g. ]% |" I$ B% R
3 p0 s' h7 K) b# q7 w tThe August average of $344,792, for all forms of housing, was down 2.8 per cent from July.6 P/ r' A5 x/ W4 d" I
) J0 q) |6 g! K& [9 VInventory rose to a record level of 9,185 listings with 4,331 homes newly listed during the month and only 1,229 sold.# E" @; T& U" u' d0 k
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One year earlier, inventory was just 2,138 units.; n, a% ~! y+ B
* ?+ Y5 m D% r. A3 H pWhile 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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/ E1 T+ S. C( U7 {2 vAverage prices of single-family homes fell 3.2 per cent, in August, to $403,757. That rolls them back to the levels of March and April. But they're still up 27.6 per cent from 12 months earlier.
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& r" \+ z- d6 X$ H) oPercentage-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 $10,720.
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6 E% X$ T0 j" I. H' }# a© Edmonton Journal 2007 |
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