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Edmonton housing prices have largest one-month drop in city's history
A7 K5 H! V( ~7 g- y5 uEdmonton Journal
- g" H6 {, Q& o! K3 |Published: 12:09 pm, U4 w) @: J+ _4 i
Edmonton-area home prices fell by almost $10,000 in August - the deepest drop in this city's history.4 f6 |: s! [+ ?
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The August average of $344,792, for all forms of housing, was down 2.8 per cent from July.
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Inventory rose to a record level of 9,185 listings with 4,331 homes newly listed during the month and only 1,229 sold.
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One year earlier, inventory was just 2,138 units.
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: @% y. _; A/ rWhile sellers have lost the luxury of bidding wars, "buyers have a lot of choice," said Carolyn Pratt, president of the Realtors Association of Edmonton - which released the figures, Wednesday.$ r ?0 }$ m, X: y% v5 p
9 ]! A: E; p% r+ Z. B0 XAverage 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.- e6 X+ \- A7 J4 J! A7 ~
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% M- O2 D' t# _' e" Y, }% }© Edmonton Journal 2007 |
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