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Edmonton housing prices have largest one-month drop in city's history
- E; L/ i6 v! G1 `% fEdmonton Journal- f5 V, S" \$ X5 |
Published: 12:09 pm0 j2 G6 O) q2 v6 \
Edmonton-area home prices fell by almost $10,000 in August - the deepest drop in this city's history., {/ _- K/ p5 M! N
+ ~* b8 V: t- Q+ b$ L4 i$ G4 SThe August average of $344,792, for all forms of housing, was down 2.8 per cent from July.6 |* k3 q0 |/ Z0 Y4 y* D U
0 Q1 |9 [3 r$ g/ [, AInventory 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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One year earlier, inventory was just 2,138 units., j: j% f; @! q, R3 v3 C; U
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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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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 $10,720.2 i- v5 \) Z# n& ? F; ]! g
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7 L) g4 Y( o9 W# \4 H( B' ^! T" H© Edmonton Journal 2007 |
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