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Edmonton housing prices have largest one-month drop in city's history
2 m |8 e* V- BEdmonton Journal% J/ A4 _, s4 |
Published: 12:09 pm2 b/ }# j( I: b5 B8 u
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. S9 b, k. e; Q1 k2 N* D
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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.# K/ s, ^+ _7 t3 N+ L
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. w/ @. k. F! EOne year earlier, inventory was just 2,138 units.9 `3 M2 S5 _* n# v: r, T
$ [$ t9 S; K0 XWhile 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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4 b4 D4 u1 P- T' |) [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 $10,720.3 f- l. p3 F/ o( h8 k
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9 d/ x1 `5 I$ e7 I( ~8 X© Edmonton Journal 2007 |
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