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Edmonton housing prices have largest one-month drop in city's history2 h! T, B. @& }* @% p" T
Edmonton Journal
1 R ~/ P; ]2 X. ]' `Published: 12:09 pm
) q$ u" o! s; @1 hEdmonton-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.
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9 y" S: z: {5 ?% \# ^Inventory rose to a record level of 9,185 listings with 4,331 homes newly listed during the month and only 1,229 sold.0 l& w0 g5 Q+ _' x! m, |" D! X
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One year earlier, inventory was just 2,138 units.7 J% a4 y& O4 {; g2 I
: h4 w- ?. n. [6 d1 ]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 $403,757. That rolls them back to the levels of March and April. But they're still up 27.6 per cent from 12 months earlier.5 U% H1 y4 n9 c$ f- A6 H f
0 ~5 @; D' G# R3 ^, z* LPercentage-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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! t4 I# F% B8 Y- c. [* ^& t: b© Edmonton Journal 2007 |
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