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Edmonton housing prices have largest one-month drop in city's history: h! S' n5 [$ }* x) q4 T8 S
Edmonton Journal. Z, x' D5 _, ~: k
Published: 12:09 pm
" {) F: L r0 Q, [Edmonton-area home prices fell by almost $10,000 in August - the deepest drop in this city's history.0 v% e" B' [0 G+ _/ }! S% }0 n0 O7 y* Y
# o; P0 ?5 D$ A" T- s- [The August average of $344,792, for all forms of housing, was down 2.8 per cent from July.' W6 z6 `! S$ f6 B
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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.; @% @2 t) q1 k1 A% ~; d
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2 j$ {3 f- K0 l4 kOne year earlier, inventory was just 2,138 units.# R# ?; @8 H! O3 `/ Q
0 S. P9 N( X$ Q+ W2 @2 qWhile 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., O8 d* P# a2 O p/ Z, s
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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.
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) l* m2 Z' v6 J' [6 S3 tPercentage-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 $10,720.0 V8 Q( K" E# P* E& d- E
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© Edmonton Journal 2007 |
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