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Edmonton housing prices have largest one-month drop in city's history
( b6 p7 X# V# L6 I" rEdmonton Journal8 b& C; f, y# @% J7 [/ d5 k
Published: 12:09 pm
1 m- U& C F; o$ x% |* hEdmonton-area home prices fell by almost $10,000 in August - the deepest drop in this city's history.: k# n4 B* ]* V5 Z7 f: A
0 F# @$ q; ~; p& Q5 m- i2 J4 t: D. XThe August average of $344,792, for all forms of housing, was down 2.8 per cent from July.
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% m7 r& G2 \* p, i$ y2 P1 WInventory 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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. J& E% ?( _9 Q" O$ r5 wOne year earlier, inventory was just 2,138 units. j- ]; S2 [% U% K2 ]1 [, v! j
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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.
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6 A. s8 T5 a. z0 RAverage 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.% M3 g+ F/ _% H" f; W0 A
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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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