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Edmonton housing prices have largest one-month drop in city's history* c4 g& `0 n. G
Edmonton Journal
" `1 q, {% |5 k, q2 sPublished: 12:09 pm
* @! \4 I" [ `5 i: L& OEdmonton-area home prices fell by almost $10,000 in August - the deepest drop in this city's history.
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5 V& {9 i; ^1 F5 K4 XThe August average of $344,792, for all forms of housing, was down 2.8 per cent from July.' P9 v1 w* H& y: p) ~2 N
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Inventory rose to a record level of 9,185 listings with 4,331 homes newly listed during the month and only 1,229 sold.
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8 y& O- i$ V/ wOne year earlier, inventory was just 2,138 units.
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. G3 S: J8 Q/ {* E# j! N* D+ zWhile 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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Average prices of single-family homes fell 3.2 per cent, in August, to $403,757. That rolls them back to the levels of March and April. But they're still up 27.6 per cent from 12 months earlier.
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, F$ ^( g, _0 G1 _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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© Edmonton Journal 2007 |
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