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Edmonton housing prices have largest one-month drop in city's history
5 e, K W. G' f# p- N V5 R( tEdmonton Journal& f! p R' k1 z% ?+ S: g( Q
Published: 12:09 pm
. H8 P s% p9 v% V8 M: EEdmonton-area home prices fell by almost $10,000 in August - the deepest drop in this city's history.
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The August average of $344,792, for all forms of housing, was down 2.8 per cent from July.4 O; B5 b5 Q( s- `
$ W% o' o/ V$ O) L+ eInventory rose to a record level of 9,185 listings with 4,331 homes newly listed during the month and only 1,229 sold.- z5 v* k- j7 T; `
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One year earlier, inventory was just 2,138 units." k: O; L* o6 L5 e/ R( z5 c/ g
2 @0 j" i+ E, Z- K TWhile 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. p* L" C# e \# [, h3 j4 D
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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.5 i* I2 f2 A% m
: J' Z: t. {: z! z6 ]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 $10,720.
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: O2 u C( F% G/ c, g$ A- {, v5 U; t© Edmonton Journal 2007 |
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