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Edmonton housing prices have largest one-month drop in city's history' n5 [' z: B* w
Edmonton Journal0 V* f. o* S: L. H' F+ H$ t" y
Published: 12:09 pm6 u6 _) ?0 `, W, }! h m0 x
Edmonton-area home prices fell by almost $10,000 in August - the deepest drop in this city's history., n* v9 M* S7 M! ?, `0 c. Y* U. Q
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The August average of $344,792, for all forms of housing, was down 2.8 per cent from July.
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Inventory rose to a record level of 9,185 listings with 4,331 homes newly listed during the month and only 1,229 sold.& ~9 J" [+ H2 v( d2 ?6 o
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6 [& Y4 D$ K- S3 }. E* \One year earlier, inventory was just 2,138 units./ Q( g9 L$ j# b9 O0 t- F
& |, j& g# O, E1 L" I KWhile 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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' s* ~# W/ i: S9 p' y5 r3 ^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.. g6 p5 j; Y( Y5 k
: A* b' N8 u+ y5 }1 U8 }, o* n* zPercentage-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 $10,720./ m$ T8 p! h# \+ u
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+ L3 v9 \! G9 M0 D/ ?5 p© Edmonton Journal 2007 |
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