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Edmonton housing prices have largest one-month drop in city's history
: F) u# Z( A. t. y* `3 P! yEdmonton Journal; U4 |1 i8 b% _9 |' W
Published: 12:09 pm4 H v$ p5 r+ C. `5 J# c
Edmonton-area home prices fell by almost $10,000 in August - the deepest drop in this city's history.- S$ S8 n9 k. \5 H: h1 g7 ?6 L1 `% i
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The August average of $344,792, for all forms of housing, was down 2.8 per cent from July.
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0 d: a$ w( x9 c4 }/ x- H2 o6 Z; ~Inventory rose to a record level of 9,185 listings with 4,331 homes newly listed during the month and only 1,229 sold." G. i1 ^, K$ B. \. q" K2 Q; b6 D; C
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" i( h# O" w3 A3 rOne year earlier, inventory was just 2,138 units.9 u0 L7 }, `" X' g3 u4 D
7 o! A" }6 N2 Z% z5 y8 bWhile 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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: M& H3 ~5 Q' d! SAverage 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 $10,720.
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n ?$ P% f ]9 j4 V }© Edmonton Journal 2007 |
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