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Edmonton housing prices have largest one-month drop in city's history
3 L/ @9 g& b3 U4 AEdmonton Journal
2 H5 f+ L B5 b lPublished: 12:09 pm
H5 ^# l8 Q6 v ~3 oEdmonton-area home prices fell by almost $10,000 in August - the deepest drop in this city's history./ V. x5 E1 E! o* A; O, f# I2 P
5 Z! g2 f/ o! P3 ~" l0 L+ D4 t9 vThe August average of $344,792, for all forms of housing, was down 2.8 per cent from July.2 w# |/ b5 B1 P& L' z% d" N3 L
9 a9 B% ?1 N3 T. R+ _1 ZInventory rose to a record level of 9,185 listings with 4,331 homes newly listed during the month and only 1,229 sold.
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7 i- K3 I. i* t6 }3 ZOne year earlier, inventory was just 2,138 units.
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$ V: \2 t+ u, b4 W a8 B, aWhile 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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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.' {) ?- W* H, U' l3 k; W5 d: F4 b
& Y5 M( o G7 t( F K* fPercentage-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." F3 ~! y5 A! k
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8 g" h2 _4 [' ]( W% e% Y. y© Edmonton Journal 2007 |
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