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Edmonton housing prices have largest one-month drop in city's history
* E5 @4 R/ b. aEdmonton Journal! l! ]" x' C P( `: O ?
Published: 12:09 pm! W& B5 E' F- R$ @" k4 e
Edmonton-area home prices fell by almost $10,000 in August - the deepest drop in this city's history.
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$ h* `' q+ G" UThe August average of $344,792, for all forms of housing, was down 2.8 per cent from July.# N7 t9 [. I( M8 c& [* N
9 B, v J! h. S5 cInventory rose to a record level of 9,185 listings with 4,331 homes newly listed during the month and only 1,229 sold.3 d' Z1 F" v2 B; v4 M; R
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One year earlier, inventory was just 2,138 units.- E; x5 ~# d6 f+ q
. F+ G/ d( M* {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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- q' F' v; d8 }! RAverage 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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9 v, z( V, [: iPercentage-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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© Edmonton Journal 2007 |
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