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Edmonton housing prices have largest one-month drop in city's history' N% `4 d0 M3 {, d, \# I# a. ?4 H
Edmonton Journal# ]2 j; [; s$ {7 }
Published: 12:09 pm/ ]* H- Y' Y; ]8 s* F8 q
Edmonton-area home prices fell by almost $10,000 in August - the deepest drop in this city's history.$ ? V% ]- Q, V+ n: y$ \' K
" h9 n6 y- E6 [( MThe August average of $344,792, for all forms of housing, was down 2.8 per cent from July.2 \' ^' X& M6 s Z2 E
% C# n! h( }* G% g5 o* D0 J5 X& E% \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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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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; F" S/ V) I2 D' zAverage 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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8 h3 a* ?; T, _7 S3 a- G& F4 s* WPercentage-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 $10,720.3 D" g4 ~9 N' n1 |
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3 {" g% y' d* u, ]; C( H6 l© Edmonton Journal 2007 |
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