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Edmonton housing prices have largest one-month drop in city's history
% X( V8 p3 s9 [+ T4 z! nEdmonton Journal
7 |: x/ Y3 S. j- @Published: 12:09 pm+ f" W! p! M; J
Edmonton-area home prices fell by almost $10,000 in August - the deepest drop in this city's history. w5 B# b$ d3 U: i/ D* M0 d9 |9 ^2 f
) K; t( z6 I) u9 c# w4 H, bThe August average of $344,792, for all forms of housing, was down 2.8 per cent from July.8 I+ Y! T- \1 A6 e' H# ~2 @
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Inventory rose to a record level of 9,185 listings with 4,331 homes newly listed during the month and only 1,229 sold.$ T& m! ~+ T+ J s
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One year earlier, inventory was just 2,138 units.- F. A& u! N) k" e, E$ g
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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.% _) Q& E* ?6 [0 H- I
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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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