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Edmonton housing prices have largest one-month drop in city's history
$ a2 i8 I7 K$ ~0 j$ ~: G: B* CEdmonton Journal8 P; m$ j' f) S
Published: 12:09 pm
) i( u7 k* q6 yEdmonton-area home prices fell by almost $10,000 in August - the deepest drop in this city's history.
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" S0 o3 k5 f. m* B3 V3 cThe August average of $344,792, for all forms of housing, was down 2.8 per cent from July.# V' s7 k' k9 d& N
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Inventory rose to a record level of 9,185 listings with 4,331 homes newly listed during the month and only 1,229 sold.
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5 i- {3 M$ ^6 h0 [6 I7 ]One year earlier, inventory was just 2,138 units.
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8 y7 @- U& B7 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. y. i5 q- @0 s
9 \5 r4 \$ R' D5 {9 U0 zAverage 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., t* w. v2 E: C' H' [# A1 s; H
9 ?- R1 p& q. {' n2 S; f& pPercentage-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 $10,720.9 S- i2 [. c; p0 N0 A
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+ A" J6 G. Z2 a; O+ q8 [4 I© Edmonton Journal 2007 |
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