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Edmonton housing prices have largest one-month drop in city's history
1 [) o# @; y1 e- R# s- ? BEdmonton Journal
$ R, E/ ]1 F2 z" T5 RPublished: 12:09 pm: N" |9 m" }5 Y' M$ C" s. |7 z
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 $344,792, for all forms of housing, was down 2.8 per cent from July., i# A. D U3 ?$ I
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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.( b+ f% R* V( Z9 N3 o
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One year earlier, inventory was just 2,138 units.% e4 y, Q* T8 y5 ^6 h2 \* [
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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.
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% R. V+ {3 h O3 r* GAverage prices of single-family homes fell 3.2 per cent, in August, to $403,757. That rolls them back to the levels of March and April. But they're still up 27.6 per cent from 12 months earlier.
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2 A& N$ }& D# l. yPercentage-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.' a: s; Z2 E* y/ o3 U
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© Edmonton Journal 2007 |
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