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Edmonton housing prices have largest one-month drop in city's history* ?" K" ^2 w# G, h; p& P
Edmonton Journal4 d( d/ o! K# N+ Y7 t6 Z4 X+ Q
Published: 12:09 pm
( j6 N( @* L- e' V' T3 m) }8 dEdmonton-area home prices fell by almost $10,000 in August - the deepest drop in this city's history.
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The August average of $344,792, for all forms of housing, was down 2.8 per cent from July.: ]* `* }& f! `; K
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Inventory rose to a record level of 9,185 listings with 4,331 homes newly listed during the month and only 1,229 sold.+ D1 \; i4 k& |& n
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One year earlier, inventory was just 2,138 units.) O7 J0 k4 `7 ?$ R) W
) j" P2 z7 n$ c2 cWhile 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.0 _, r4 @' p7 ]& l
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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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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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0 z* Q# @ I, ~5 ?/ E7 S© Edmonton Journal 2007 |
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