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Edmonton housing prices have largest one-month drop in city's history
+ i4 ^& z5 v" q: yEdmonton Journal5 }- f" U4 O& m, I, T+ C+ N
Published: 12:09 pm8 y' a9 r; G0 f A& \" \6 q
Edmonton-area home prices fell by almost $10,000 in August - the deepest drop in this city's history.
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' S* g3 M; l& l9 I9 bThe 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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9 B* I' m: A3 z+ z! u6 N/ ^One year earlier, inventory was just 2,138 units.7 {1 k6 @7 o: _4 f* W1 V; c _
! y) ?/ F, O1 Q- TWhile 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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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 $10,720.. A$ y. C ^# D/ ]+ I, ~( a
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© Edmonton Journal 2007 |
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