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Edmonton housing prices have largest one-month drop in city's history
/ Z7 r, s0 d* PEdmonton Journal
" L+ _" s" i, FPublished: 12:09 pm' h! \0 ]; f+ J5 c8 U8 w, n0 J
Edmonton-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.
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( g8 r1 `+ w: _ M, g4 G; IInventory 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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. H9 P3 G" \7 @) G5 iOne year earlier, inventory was just 2,138 units.- b0 O; I/ R" q/ o! z
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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.
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8 D& m2 @( H) G5 K4 wPercentage-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.( ^( ?' M' t6 M4 e% G' Q" z) Z
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: X! N9 H* T0 ]. m0 C© Edmonton Journal 2007 |
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