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Edmonton housing prices have largest one-month drop in city's history$ n5 G" x8 Q. k4 `/ h% k
Edmonton Journal
# s. f2 s6 |! V& H* RPublished: 12:09 pm+ n$ J% K4 u) J5 C' Q5 t
Edmonton-area home prices fell by almost $10,000 in August - the deepest drop in this city's history.* q" T1 x' u$ k! b" o+ X- ^9 u
$ F2 L$ @- l+ ?: fThe August average of $344,792, for all forms of housing, was down 2.8 per cent from July.
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Inventory rose to a record level of 9,185 listings with 4,331 homes newly listed during the month and only 1,229 sold.9 m# Z3 s7 H6 c$ W
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One year earlier, inventory was just 2,138 units.
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! P( K! [, U6 T7 e# ]: _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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0 \( S$ _! @& U( 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.& T: v0 D. j; K1 s1 j0 p( C! t
0 k4 `9 i6 J) n# [0 \& b sPercentage-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 $10,720.# r! B* u+ O9 Y# X$ L8 k6 Z
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© Edmonton Journal 2007 |
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