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Edmonton housing prices have largest one-month drop in city's history1 Z- }1 e7 }+ D
Edmonton Journal
) a" x% |3 @6 _& H7 ]- gPublished: 12:09 pm
3 {' b' S8 _+ e" R' [" @# M* |2 ~, YEdmonton-area home prices fell by almost $10,000 in August - the deepest drop in this city's history.! L6 ]' e% M4 r
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The August average of $344,792, for all forms of housing, was down 2.8 per cent from July.+ z6 s8 C9 a0 C0 I& J
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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.
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# @! G3 o( R9 q0 T( SOne year earlier, inventory was just 2,138 units., i0 q4 h6 H0 J5 {- ?( N8 F
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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.* X/ f ^( F; W& \4 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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' o) p0 `5 j9 R+ Q+ ~6 xPercentage-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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( T3 H- s4 K5 f e© Edmonton Journal 2007 |
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