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Edmonton housing prices have largest one-month drop in city's history
' l: f! _6 ]$ U. z' o) {& zEdmonton Journal
: S( K* l! c0 G) FPublished: 12:09 pm7 Q! J* V7 z" a
Edmonton-area home prices fell by almost $10,000 in August - the deepest drop in this city's history.' a9 R# h9 {' H Q8 S4 S
T8 r0 z5 f9 RThe August average of $344,792, for all forms of housing, was down 2.8 per cent from July.! K# F W% n9 N7 z6 q$ h
4 X7 B7 b' z0 r q* b1 L# D8 rInventory rose to a record level of 9,185 listings with 4,331 homes newly listed during the month and only 1,229 sold.4 u+ \9 R0 p7 b0 u9 L4 X8 d6 K& e
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+ w$ M! a; g8 O# J2 X0 q/ hOne year earlier, inventory was just 2,138 units.8 _8 O9 F( v7 _ Z3 D: h" _7 J
8 w. q6 O, ?/ Q, v8 S! X; _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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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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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.
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5 g3 o7 s9 o6 T7 H© Edmonton Journal 2007 |
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