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Edmonton housing prices have largest one-month drop in city's history9 @: d L* B0 m2 G
Edmonton Journal2 N J5 N" s, X* i+ s. p: A
Published: 12:09 pm" j: i! ~4 Z( V6 |2 z
Edmonton-area home prices fell by almost $10,000 in August - the deepest drop in this city's history.
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4 o) @6 p$ N+ YThe August average of $344,792, for all forms of housing, was down 2.8 per cent from July.
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Inventory rose to a record level of 9,185 listings with 4,331 homes newly listed during the month and only 1,229 sold.
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: b- i6 M* p; A: U, i% ZOne year earlier, inventory was just 2,138 units.
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1 s9 c! o( _ |) P2 i3 [ CWhile sellers have lost the luxury of bidding wars, "buyers have a lot of choice," said Carolyn Pratt, president of the Realtors Association of Edmonton - which released the figures, Wednesday.* @$ j/ s- w5 u. U& J$ K8 P% X
( v: X$ J' B; l* b+ `9 }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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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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