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Edmonton housing prices have largest one-month drop in city's history0 j/ y1 ^ Z3 X \, E* b. Q7 V
Edmonton Journal
: E' y. q: {) B" b; w: g" bPublished: 12:09 pm# |( U# [$ _6 x. l, Y# R% L9 Z% W
Edmonton-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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! o- M4 ]5 \9 J. ^Inventory rose to a record level of 9,185 listings with 4,331 homes newly listed during the month and only 1,229 sold.- d4 F& g' C0 I9 m/ D
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One year earlier, inventory was just 2,138 units.
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) O) s Z& R. SWhile 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., S7 `( J) P7 V& G7 h7 T) `& C
; y: b) q) A6 V% j/ cPercentage-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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