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Edmonton housing prices have largest one-month drop in city's history) g: p* o9 m. R5 H& d- i" a% u" @
Edmonton Journal
! t$ f4 z) j0 A2 gPublished: 12:09 pm
& a' ]3 O4 q2 HEdmonton-area home prices fell by almost $10,000 in August - the deepest drop in this city's history.8 w9 j# r! i) M0 @ g" E
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The August average of $344,792, for all forms of housing, was down 2.8 per cent from July.
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+ `) S% ]$ K/ \# q* qInventory rose to a record level of 9,185 listings with 4,331 homes newly listed during the month and only 1,229 sold.5 n7 _* D; v9 p$ M
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One year earlier, inventory was just 2,138 units.1 X6 _) h; _7 R6 k& h) V
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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.: G0 x9 R& @% V' H% U$ ^
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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.1 _1 G. S; h) v: e0 k7 i( z
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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 $10,720.8 |& d: k: ~0 k
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2 w, ~& N+ s7 Y: Z- f) o) p- b© Edmonton Journal 2007 |
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