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Edmonton housing prices have largest one-month drop in city's history
3 e/ v" |* m* v% h% m; S1 [8 {6 s; dEdmonton Journal
4 h. J5 v7 F) K8 S" r% tPublished: 12:09 pm+ [/ B7 b4 e2 w0 ^( M1 o1 a
Edmonton-area home prices fell by almost $10,000 in August - the deepest drop in this city's history.1 E, L$ @$ z# Q' _0 W+ F& j7 V5 a
]6 R6 z! y2 [- Z8 BThe 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.7 [+ Z: s* b& x- ^/ M
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One year earlier, inventory was just 2,138 units.- }: a- x1 n9 }, e: j5 I& m4 m( S
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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 $403,757. That rolls them back to the levels of March and April. But they're still up 27.6 per cent from 12 months earlier.1 _5 e, x( }0 R$ F; t
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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.! k! b1 F% w5 w* J; c" m
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% L3 A. r0 w+ |. a- _© Edmonton Journal 2007 |
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