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Edmonton housing prices have largest one-month drop in city's history
5 K8 k* Y7 f& Z/ P. A4 J: X2 f6 FEdmonton Journal
8 D, v/ q! F9 l3 s0 [5 fPublished: 12:09 pm8 K$ R' b( @6 z0 v& B) 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 $344,792, for all forms of housing, was down 2.8 per cent from July.( d2 p2 v; B. d
" ?4 {5 b# M2 c GInventory rose to a record level of 9,185 listings with 4,331 homes newly listed during the month and only 1,229 sold.6 ] ]" I' k+ u! n
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# q4 d: E! Y0 C: J6 AOne year earlier, inventory was just 2,138 units.. q- p5 `8 }2 J; x1 [$ I) C- Z
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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.+ k- y7 {# O9 M; H
2 o9 o. C3 F& e0 K! K" b& r4 u: [5 SAverage prices of single-family homes fell 3.2 per cent, in August, to $403,757. That rolls them back to the levels of March and April. But they're still up 27.6 per cent from 12 months earlier.
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( b2 G$ V0 V$ R; Y, 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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4 y* V7 d7 ?, j© Edmonton Journal 2007 |
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