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Edmonton housing prices have largest one-month drop in city's history
6 a3 c- y/ \* t8 Z9 B6 u c. f/ B9 TEdmonton Journal( Y( B8 l- f" _6 ]' _$ Y
Published: 12:09 pm
+ X1 v* P# F: Z" b0 G5 sEdmonton-area home prices fell by almost $10,000 in August - the deepest drop in this city's history.& m* V; m6 R7 v" ^
' P+ E4 Y) m; qThe August average of $344,792, for all forms of housing, was down 2.8 per cent from July.
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( L2 h: ^( n4 p$ G5 J1 _9 v6 b0 v4 XInventory 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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7 s* d" f9 V- n/ |" w, r2 }8 cOne 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. n/ I+ U2 t% } D% d
3 `( z8 f6 k. g! W- hAverage prices of single-family homes fell 3.2 per cent, in August, to $403,757. That rolls them back to the levels of March and April. But they're still up 27.6 per cent from 12 months earlier.. M$ Y, I6 Q. B* D
' M5 U- Y* `" y" S9 zPercentage-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 $10,720.1 ^/ D+ H4 M7 d! E1 ~" |+ p
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& J. o' u8 F1 `- d7 O" n0 K3 K© Edmonton Journal 2007 |
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