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Edmonton housing prices have largest one-month drop in city's history
+ T" a7 M& k& |. D# b+ KEdmonton Journal7 V* [2 r3 J$ m5 [" F. y" }
Published: 12:09 pm# N+ ] m9 J- {, V" ^
Edmonton-area home prices fell by almost $10,000 in August - the deepest drop in this city's history.4 j6 g) ~- q+ ^2 P5 e3 `( W. _
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The August average of $344,792, for all forms of housing, was down 2.8 per cent from July.
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0 @9 L% R1 S8 J( aInventory rose to a record level of 9,185 listings with 4,331 homes newly listed during the month and only 1,229 sold.4 e: v. s1 i( F3 P0 D# D
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( s$ t: O& M2 I, mOne year earlier, inventory was just 2,138 units.
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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.
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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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2 V# j" t5 e3 ^! v) GPercentage-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./ b! a3 ^; B1 G3 f
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© Edmonton Journal 2007 |
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