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Edmonton housing prices have largest one-month drop in city's history
w/ l( W* I& IEdmonton Journal8 A I+ d" f" `0 J
Published: 12:09 pm$ C4 b* m5 T' b# u1 J
Edmonton-area home prices fell by almost $10,000 in August - the deepest drop in this city's history., d/ [8 q% f3 J/ E7 F) Z
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The August average of $344,792, for all forms of housing, was down 2.8 per cent from July., B3 c; b. k8 V- W) p, H$ Q7 o
; X# g$ i0 H# v) W T9 J4 ~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.4 ?* M3 m# D7 {3 D6 N4 I" ]8 w
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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.
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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 $10,720." e7 ?) R& @# r! e9 t( d$ y& P
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© Edmonton Journal 2007 |
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