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Edmonton housing prices have largest one-month drop in city's history3 b6 c3 d3 m6 Y! l
Edmonton Journal
5 M" \; Y6 M0 m7 D( o. v5 D3 y R9 UPublished: 12:09 pm9 M0 Q g5 D5 y0 P( x1 }
Edmonton-area home prices fell by almost $10,000 in August - the deepest drop in this city's history.
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9 }+ ~/ e0 ?! ZThe August average of $344,792, for all forms of housing, was down 2.8 per cent from July.! ]2 X! O1 @8 Z$ @8 f& ~
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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.. [2 s: \4 V8 b, K. B
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One year earlier, inventory was just 2,138 units.* W i9 \$ G2 @5 e
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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.6 |9 O0 g6 M1 I5 S/ X4 R' v/ r+ R6 ]
# F" y1 X' F! r) |7 H: U1 ?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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! R, }0 |6 R( F9 t# z; G1 |) B4 lPercentage-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 T3 x& t* s' Q h
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© Edmonton Journal 2007 |
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