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Edmonton housing prices have largest one-month drop in city's history
/ r7 b/ X- _" Y3 i3 E. CEdmonton Journal" O9 P9 E \* n
Published: 12:09 pm
$ d) v3 N8 w' y H+ ] i( U% GEdmonton-area home prices fell by almost $10,000 in August - the deepest drop in this city's history.3 g; j' B2 l3 \: I
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The August average of $344,792, for all forms of housing, was down 2.8 per cent from July.
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Inventory rose to a record level of 9,185 listings with 4,331 homes newly listed during the month and only 1,229 sold.
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" G- v& L. F2 }6 r" d$ d, P$ k# cOne year earlier, inventory was just 2,138 units.4 P4 B4 y8 w- M# e
0 z2 z. e& M8 {" s" ^; F/ ?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.; ^. Y1 q$ u" r3 \
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Average prices of single-family homes fell 3.2 per cent, in August, to $403,757. That rolls them back to the levels of March and April. But they're still up 27.6 per cent from 12 months earlier.* O; n% f' H" W- d. D
/ i( m# M$ n. y, w% J/ BPercentage-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.: y; k- e- W& [5 V; h1 b+ P7 u
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© Edmonton Journal 2007 |
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