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Edmonton housing prices have largest one-month drop in city's history
y5 h d, c( |7 z, LEdmonton Journal' d1 l/ c9 F, I! r
Published: 12:09 pm" g5 e( z0 q8 v B' j. t
Edmonton-area home prices fell by almost $10,000 in August - the deepest drop in this city's history.; D! x. z# R1 N$ ~1 j
& B+ K. x& T; k$ @ K* ]The August average of $344,792, for all forms of housing, was down 2.8 per cent from July.5 `. e' x, c9 p# R: `% W
+ E T, `$ Y6 d( Z; J. U; qInventory 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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9 D* k' T* `6 J% i( @0 y# tOne year earlier, inventory was just 2,138 units.! g6 N+ H% O; Z! l; f0 J. r
/ @* p* X. i; Q; W, MWhile 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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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 $10,720.2 F! D Q# _. G3 q9 Q0 @: B
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© Edmonton Journal 2007 |
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