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Edmonton housing prices have largest one-month drop in city's history
8 ]& b( |1 `) H* m/ M- QEdmonton Journal
3 ?0 p; Q3 f, oPublished: 12:09 pm
" c% F3 B0 S! P' O8 a7 N3 KEdmonton-area home prices fell by almost $10,000 in August - the deepest drop in this city's history.6 m) ?3 ?$ a1 a W% c7 `
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The August average of $344,792, for all forms of housing, was down 2.8 per cent from July.8 z0 z q- {' ]
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Inventory rose to a record level of 9,185 listings with 4,331 homes newly listed during the month and only 1,229 sold., x. ?/ ^, Y7 x/ [+ e f& V
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One year earlier, inventory was just 2,138 units.
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. m- l3 M$ M$ z5 [. M: F- y: e9 ]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.3 g) y K' c. p
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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.5 @2 X( D8 i( N) ]6 M) `
+ g' \& X/ M% {' ]. ~4 ePercentage-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 $10,720.
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$ q% h6 l: d: x" ]- V8 |! j© Edmonton Journal 2007 |
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