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Edmonton housing prices have largest one-month drop in city's history
: P. B( M# p1 g. \Edmonton Journal
( {+ M, f. @+ @Published: 12:09 pm& p" m( @/ `5 ~, i5 [
Edmonton-area home prices fell by almost $10,000 in August - the deepest drop in this city's history.) \4 S9 o. d$ m2 ]* V
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The August average of $344,792, for all forms of housing, was down 2.8 per cent from July.
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Inventory rose to a record level of 9,185 listings with 4,331 homes newly listed during the month and only 1,229 sold.5 P& V/ [! j5 ~ }- t2 ~1 i$ Q: Y
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4 w) N1 v# F1 fOne 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.. [- K i/ L% C9 }
8 M9 Z7 u6 G! Z& iAverage 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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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.
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© Edmonton Journal 2007 |
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