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Edmonton housing prices have largest one-month drop in city's history
+ @0 g; E5 O. k1 O8 E' b0 yEdmonton Journal* d' w. t& d# a' `& h( k f3 V
Published: 12:09 pm
: d' `; y' V( |& t* B' FEdmonton-area home prices fell by almost $10,000 in August - the deepest drop in this city's history.
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P0 g M3 u. C6 y3 aThe August average of $344,792, for all forms of housing, was down 2.8 per cent from July.
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Inventory rose to a record level of 9,185 listings with 4,331 homes newly listed during the month and only 1,229 sold.
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One year earlier, inventory was just 2,138 units.3 \* E1 o# P8 V. l, b+ t- W: Y
% x0 }% r9 V, m$ m1 }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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$ H* V) |3 s7 dAverage 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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+ l( i' l( Q! B; i( BPercentage-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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