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Edmonton housing prices have largest one-month drop in city's history6 Y* p1 j1 f* g: b9 m& h5 V0 S
Edmonton Journal8 o' L# A4 w4 v7 I8 y, ~
Published: 12:09 pm
8 @5 c( X+ x# H$ T; U4 |# k' wEdmonton-area home prices fell by almost $10,000 in August - the deepest drop in this city's history.
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* g$ @* ^0 F8 k( EThe August average of $344,792, for all forms of housing, was down 2.8 per cent from July.
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x- z& O4 O eInventory 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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7 L. C. J! C H1 t* LOne year earlier, inventory was just 2,138 units.
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% ^8 T, Y( g7 I6 _* l' [: c% 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.
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0 e; X; t, N# eAverage prices of single-family homes fell 3.2 per cent, in August, to $403,757. That rolls them back to the levels of March and April. But they're still up 27.6 per cent from 12 months earlier.$ O% U7 B1 A- `
9 n% E4 ~) j, Y: k3 SPercentage-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 $10,720.2 r5 j9 Y8 |+ |4 z
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© Edmonton Journal 2007 |
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