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Edmonton housing prices have largest one-month drop in city's history7 j0 j: w" V1 l# d. }! R# d; h# m
Edmonton Journal
6 f" V+ D9 o$ F6 W- i) r7 Q5 jPublished: 12:09 pm r. f! T0 U) K& q' J; q
Edmonton-area home prices fell by almost $10,000 in August - the deepest drop in this city's history.
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$ f9 `7 n' b5 G# {& X) PThe August average of $344,792, for all forms of housing, was down 2.8 per cent from July.
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Inventory rose to a record level of 9,185 listings with 4,331 homes newly listed during the month and only 1,229 sold.- E L8 L7 C( M5 H, t5 C
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One year earlier, inventory was just 2,138 units./ r) a" u3 ]9 I$ \) w
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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.+ t0 R. x# N: i" B% x
+ K0 a1 a) o& y |! e `( u! WAverage prices of single-family homes fell 3.2 per cent, in August, to $403,757. That rolls them back to the levels of March and April. But they're still up 27.6 per cent from 12 months earlier. a# P5 x2 \6 T4 e; S
* }$ O: b# O( X- M! wPercentage-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 $10,720.4 D! _7 r+ Y# j4 r) r$ l" D+ ^: l
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! U+ W& t% q4 _* O# {- H© Edmonton Journal 2007 |
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