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Edmonton housing prices have largest one-month drop in city's history& S# s0 s' o2 N3 {! X0 R/ F
Edmonton Journal
' _2 U9 |; H# g; w$ z+ w7 aPublished: 12:09 pm
1 K u. t; C% y4 M. @3 E4 HEdmonton-area home prices fell by almost $10,000 in August - the deepest drop in this city's history.
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8 C: l/ J6 `& A( M* X& |3 `The August average of $344,792, for all forms of housing, was down 2.8 per cent from July.9 q; Y' _3 D& U5 F+ z
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Inventory rose to a record level of 9,185 listings with 4,331 homes newly listed during the month and only 1,229 sold.6 |" B3 S' F( a- B2 h4 f9 t) H5 g3 s
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7 T1 G, V1 Q2 {8 o9 iOne year earlier, inventory was just 2,138 units.
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While sellers have lost the luxury of bidding wars, "buyers have a lot of choice," said Carolyn Pratt, president of the Realtors Association of Edmonton - which released the figures, Wednesday.
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$ q9 ~3 b+ |+ n7 A8 l, QAverage 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.9 A3 W6 W% \ ^" A( \0 z
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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.
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& Q( W# G+ s' g4 R9 @. e" N' ^7 b% g© Edmonton Journal 2007 |
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