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Edmonton housing prices have largest one-month drop in city's history
/ d8 y$ s7 c0 Q6 }Edmonton Journal9 o2 s" a7 \5 m6 L' K) c6 }/ A
Published: 12:09 pm
* X! |' v5 F3 K9 f" {. e8 i" R0 wEdmonton-area home prices fell by almost $10,000 in August - the deepest drop in this city's history.7 O) q: a& J( |1 J( f, g6 k
/ E1 F( z8 r% J+ n U6 E) `: `# d, W7 TThe August average of $344,792, for all forms of housing, was down 2.8 per cent from July.
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Inventory rose to a record level of 9,185 listings with 4,331 homes newly listed during the month and only 1,229 sold.; i7 k( A& R4 F' B5 L
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One year earlier, inventory was just 2,138 units.4 ]5 [5 @* f9 L7 ?, \
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While sellers have lost the luxury of bidding wars, "buyers have a lot of choice," said Carolyn Pratt, president of the Realtors Association of Edmonton - which released the figures, Wednesday.6 h8 o9 l) H: l: D# T" O$ S
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Average prices of single-family homes fell 3.2 per cent, in August, to $403,757. That rolls them back to the levels of March and April. But they're still up 27.6 per cent from 12 months earlier.
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$ r! G2 j2 o3 ~( ?9 U7 oPercentage-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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© Edmonton Journal 2007 |
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