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Edmonton housing prices have largest one-month drop in city's history
) ~3 l2 {# j. z2 R5 J' \: `8 l* r! `Edmonton Journal, C0 F9 ~* o- i" a4 y* ~
Published: 12:09 pm% } l* r' d! V# s0 M# R
Edmonton-area home prices fell by almost $10,000 in August - the deepest drop in this city's history.; r/ d! B' r; ]0 n
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The August average of $344,792, for all forms of housing, was down 2.8 per cent from July.
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Inventory rose to a record level of 9,185 listings with 4,331 homes newly listed during the month and only 1,229 sold.
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1 X/ w7 q' J' J+ t5 ~One year earlier, inventory was just 2,138 units.; S. u5 Z0 d+ H2 T$ L6 ?0 c
4 \( Q( \8 T0 v* G7 T" U5 }, yWhile 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% u! g. y3 ^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 $10,720.5 ~& r2 U8 g* l) u. b! {! w& k
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+ q: P+ y7 z8 m0 P7 Y+ i7 t© Edmonton Journal 2007 |
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