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Edmonton housing prices have largest one-month drop in city's history* c. T' r8 D7 `7 i$ ^6 ~
Edmonton Journal
: i4 k6 T# F% X) q3 y( bPublished: 12:09 pm2 |( h. _- o/ Q" _
Edmonton-area home prices fell by almost $10,000 in August - the deepest drop in this city's history.
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+ @0 ?' g( E" o; R% r+ qThe August average of $344,792, for all forms of housing, was down 2.8 per cent from July.
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' k6 U' f" f8 S, D, vInventory 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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0 J- @& W9 T7 z" [& `+ TOne year earlier, inventory was just 2,138 units.
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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.
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Average prices of single-family homes fell 3.2 per cent, in August, to $403,757. That rolls them back to the levels of March and April. But they're still up 27.6 per cent from 12 months earlier.$ e& {9 ? Q7 B
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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.& O# H1 N4 T: D9 B- ^/ |0 l
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: l+ t: n4 H* B6 ?( ~© Edmonton Journal 2007 |
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