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Edmonton housing prices have largest one-month drop in city's history
- j3 A% x& [& I0 A- Y/ `2 [3 zEdmonton Journal
( O9 s C9 k% lPublished: 12:09 pm9 n8 j: v: u4 B3 j8 ~( i, ~0 U
Edmonton-area home prices fell by almost $10,000 in August - the deepest drop in this city's history.
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) @' j2 S6 t8 QThe August average of $344,792, for all forms of housing, was down 2.8 per cent from July.
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) |( k# X4 B" _) K2 UInventory rose to a record level of 9,185 listings with 4,331 homes newly listed during the month and only 1,229 sold.
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One year earlier, inventory was just 2,138 units.; o$ z C* e! g) h
2 } `; U% O5 q8 F5 aWhile 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 $403,757. That rolls them back to the levels of March and April. But they're still up 27.6 per cent from 12 months earlier.* |' g% S% b" z+ H- r* {' R$ U1 }
8 p8 P, u: ]% {8 R2 L, C! QPercentage-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. ` K; ^# r4 ]4 A, Y: }! h
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© Edmonton Journal 2007 |
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