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Edmonton housing prices have largest one-month drop in city's history
& J; z& J2 z( \" A' F$ nEdmonton Journal
: {# }. i0 J7 `6 i+ q; U( uPublished: 12:09 pm$ T! H! e# c/ P- Z+ S
Edmonton-area home prices fell by almost $10,000 in August - the deepest drop in this city's history., S' |) x! u% ~' M) V P3 | a0 Q
" b1 \6 f5 ~7 d2 |& R9 g: LThe August average of $344,792, for all forms of housing, was down 2.8 per cent from July.
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4 c( l! \- N* u; M8 e" cInventory 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.
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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.* n n0 v; L @" v; P
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Average prices of single-family homes fell 3.2 per cent, in August, to $403,757. That rolls them back to the levels of March and April. But they're still up 27.6 per cent from 12 months earlier.
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4 I$ h" @. C& a' H; C4 GPercentage-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 $10,720.3 n( d) h& k% Z! ?, D* U' C; }
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© Edmonton Journal 2007 |
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