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Edmonton housing prices have largest one-month drop in city's history
6 M+ p# W3 ~4 J( A# [, S* kEdmonton Journal0 N- O! g! j8 b! `+ M4 V
Published: 12:09 pm
. k' a5 }* q/ m# |7 i3 j; {8 n6 _Edmonton-area home prices fell by almost $10,000 in August - the deepest drop in this city's history.
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The August average of $344,792, for all forms of housing, was down 2.8 per cent from July.
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Inventory rose to a record level of 9,185 listings with 4,331 homes newly listed during the month and only 1,229 sold.- n# Z% G4 `: @$ U2 |7 g0 n1 t
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G0 e/ q; [- @( X% F( n) I3 TOne year earlier, inventory was just 2,138 units.
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4 |5 N! J3 I$ s9 G. t* lWhile 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.. `, q5 s/ J0 `9 e
8 x7 p7 l9 W% H) l0 y% kAverage 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 $10,720.
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4 H6 h' v9 C) \: D% N9 M$ r j© Edmonton Journal 2007 |
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