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Edmonton housing prices have largest one-month drop in city's history
! P$ z* e' u0 N+ Y# R7 \Edmonton Journal
5 U* N- j! S/ T! WPublished: 12:09 pm0 x! V+ E! U" p Z+ _* D! U; i9 n+ v7 G9 c
Edmonton-area home prices fell by almost $10,000 in August - the deepest drop in this city's history., s8 A/ ~# A+ t K8 y9 [
k- t, w5 e& z6 ~: M7 pThe 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 B8 U0 V# H5 q
( h- S2 F( x8 W" `+ k% h- wWhile 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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) l+ Y& ]- i2 oAverage 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 $10,720.7 h5 r5 {/ g6 y8 [/ V! U
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© Edmonton Journal 2007 |
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