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Edmonton housing prices have largest one-month drop in city's history
$ F/ t- o, T; j5 n( |# G( O7 SEdmonton Journal
, ]& u6 m7 S. `- ]( rPublished: 12:09 pm
2 v$ O- k; j# f! P* N( B2 I1 \Edmonton-area home prices fell by almost $10,000 in August - the deepest drop in this city's history.
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4 V* L; T) T k) }) y/ s K" b+ rThe August average of $344,792, for all forms of housing, was down 2.8 per cent from July.& u7 q8 ?% T8 h x9 M
% Y! J$ n' f: W) M; QInventory 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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One year earlier, inventory was just 2,138 units.! s* u R: j' ?
5 u7 q$ R! X9 ~& _# EWhile 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.3 @9 ^2 I& [. M; j" v, h. L
' I: l" @2 f0 n+ c, F5 J2 FAverage 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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© Edmonton Journal 2007 |
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