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Edmonton housing prices have largest one-month drop in city's history
- y+ C0 I% P. Z2 u! _3 PEdmonton Journal
# ?; h) Z! B6 Z: jPublished: 12:09 pm
! H# L4 V5 [ w# `9 DEdmonton-area home prices fell by almost $10,000 in August - the deepest drop in this city's history.
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) g3 x, ^8 p8 B, h; C+ R# P/ Q+ ?The August average of $344,792, for all forms of housing, was down 2.8 per cent from July.
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Inventory rose to a record level of 9,185 listings with 4,331 homes newly listed during the month and only 1,229 sold.
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, ]4 d' K: f4 n: u# r, Z" NOne year earlier, inventory was just 2,138 units.- ~7 y$ V: T* e s1 ?9 C
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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.: ?/ h( h W0 s1 x! U5 F9 O
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Average prices of single-family homes fell 3.2 per cent, in August, to $403,757. That rolls them back to the levels of March and April. But they're still up 27.6 per cent from 12 months earlier.
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) {' [. N2 D$ G4 w! a& KPercentage-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 $10,720.0 a5 k6 f8 ~. i9 b
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, c- ~; T" L% B© Edmonton Journal 2007 |
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