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Edmonton housing prices have largest one-month drop in city's history$ t$ g# f/ n; e3 q, k5 Y" G# d
Edmonton Journal
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Edmonton-area home prices fell by almost $10,000 in August - the deepest drop in this city's history.$ |, V9 I+ U5 f- i
+ b+ @2 l# i+ u8 vThe August average of $344,792, for all forms of housing, was down 2.8 per cent from July.
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4 J! C7 K# a4 b# D+ CInventory rose to a record level of 9,185 listings with 4,331 homes newly listed during the month and only 1,229 sold.( t1 D! {- o8 C/ ^( A7 }. z0 P/ P* H
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4 g9 ~; r( _6 W) |One year earlier, inventory was just 2,138 units.. E1 j7 c6 P. k; t0 r
4 k( o- D6 g6 }4 d# ?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.8 p. t- P0 Y# ^1 |. z8 | q
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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 $10,720.6 X& e+ j) ?6 `$ m
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© Edmonton Journal 2007 |
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