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Edmonton housing prices have largest one-month drop in city's history
6 |+ L; h0 [2 N& o6 yEdmonton Journal
- l6 O9 y: M5 _4 VPublished: 12:09 pm2 ? h$ B8 k. F4 }& }7 X5 M2 m
Edmonton-area home prices fell by almost $10,000 in August - the deepest drop in this city's history.
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7 i6 F* g! b4 W [3 |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.3 Y" t. p6 G4 H
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One year earlier, inventory was just 2,138 units.7 E! P# ^0 D/ p# a7 }' ^. q! N
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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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( P A. N! p2 F3 T" L8 u2 q5 nAverage 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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3 t) {# V) J! z' M5 m: 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 $10,720.' R4 a: `: X* m7 Y' g$ o" }+ `
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A8 R* E) ^% Y# s- h' y i- L© Edmonton Journal 2007 |
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