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Edmonton housing prices have largest one-month drop in city's history
4 v" X: _3 }4 E" G! i9 dEdmonton Journal1 l% ]( p; W' Z. i9 x! L
Published: 12:09 pm
& ~/ H4 |7 |, O; h+ LEdmonton-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 $344,792, for all forms of housing, was down 2.8 per cent from July.: [ K6 j2 d4 W( |9 X6 [4 C
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Inventory rose to a record level of 9,185 listings with 4,331 homes newly listed during the month and only 1,229 sold.
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One year earlier, inventory was just 2,138 units.9 `7 t$ g" ]" L8 Q5 P
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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.+ m2 [" g( M7 m4 ?. d8 m
. } k. G# c0 BAverage 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.0 l- Y# v) ^' M1 w
$ b/ D/ v' ~2 n5 B) Z8 d0 ]. {6 U8 bPercentage-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 x. c8 X7 t6 m* F& P1 H
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