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Edmonton housing prices have largest one-month drop in city's history
8 g2 b! _3 O7 ]; i" KEdmonton Journal) w% c4 W5 X Y
Published: 12:09 pm, x* u) ~( I3 n) \: W
Edmonton-area home prices fell by almost $10,000 in August - the deepest drop in this city's history.; z; O8 o9 z' i1 d
3 d; G2 E0 Q7 R R3 a$ r- CThe August average of $344,792, for all forms of housing, was down 2.8 per cent from July.7 i- V2 U+ ^4 ?) y9 I$ B
2 E" {! b( G9 J1 ~* ]; ?0 ^Inventory 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 t/ S. R x+ UOne 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.% G. E! e7 B0 A1 I- O& k( `
" C9 `+ N+ ^' R* [1 pAverage 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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- t+ B W( C, Y. T0 a- C6 t+ X0 J, EPercentage-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.* N3 T" p& I+ _ M: ?- C( Y
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© Edmonton Journal 2007 |
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