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Edmonton housing prices have largest one-month drop in city's history3 G' D( l! ]/ U
Edmonton Journal
/ @. h7 |- g% `8 {$ [& x e$ J! rPublished: 12:09 pm0 H7 I8 v* O/ w0 u
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.1 q3 H+ u, `) B
: V" m0 s0 ?+ B+ aInventory 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.0 h. l/ U5 e3 |6 a- ~: T% X3 R" T
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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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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.6 V+ U/ f5 I( e6 h0 f/ k
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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 $10,720.0 i7 v0 [9 N' z) W+ Q% i4 |
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W5 w8 v6 N' F9 a8 j© Edmonton Journal 2007 |
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