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Edmonton housing prices have largest one-month drop in city's history
]& \$ F% [, X2 p, ~Edmonton Journal0 T& Q; J" T, b6 I- W! Y
Published: 12:09 pm
, [& e3 u( P% B5 w$ ]Edmonton-area home prices fell by almost $10,000 in August - the deepest drop in this city's history.
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5 U* Y& o! R4 S4 h- DThe August average of $344,792, for all forms of housing, was down 2.8 per cent from July.) H% Q) ~5 q) r2 ]) @% c
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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 ?3 g6 U0 J, f% A8 h) D; Q
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( z/ c0 g4 _% _. _& u: A3 gOne year earlier, inventory was just 2,138 units.
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7 {6 t: D7 Q7 _0 m( CWhile 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.' C+ J+ t, r& ?- S
. n& m" j% B! o3 f1 y, _3 k" BAverage 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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7 X7 ]: L2 d7 }4 A1 F3 O% `8 iPercentage-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 $10,720.$ C" M2 C4 H$ g) [
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© Edmonton Journal 2007 |
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