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Edmonton housing prices have largest one-month drop in city's history
I% o% J4 O1 R6 a/ hEdmonton Journal
. i/ ]2 Q# Y' a0 JPublished: 12:09 pm
/ b' E' \, C- u l( q: A: nEdmonton-area home prices fell by almost $10,000 in August - the deepest drop in this city's history.6 E7 H5 W3 R( M0 v
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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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/ _% w0 P! M- n( qOne year earlier, inventory was just 2,138 units.. S6 E, x1 b4 E
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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.7 q, X. x: |% D) r8 L% B& A
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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.; G4 D- t; h" b7 h9 q7 L
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( C7 j. p6 @' n4 Z© Edmonton Journal 2007 |
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