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Edmonton housing prices have largest one-month drop in city's history
" R+ X# B4 A: c, MEdmonton Journal
3 j$ N9 B* X/ W1 j" \% k( v% ~Published: 12:09 pm
- x1 N) b- }$ e T" |Edmonton-area home prices fell by almost $10,000 in August - the deepest drop in this city's history.# M) H9 S+ Q N9 o" B
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The August average of $344,792, for all forms of housing, was down 2.8 per cent from July.
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; p/ ]6 X( C2 u! a4 i! w. P9 `Inventory rose to a record level of 9,185 listings with 4,331 homes newly listed during the month and only 1,229 sold.( @: i, C* j" M6 I
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One year earlier, inventory was just 2,138 units.
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8 L& C" {/ z/ y9 fWhile sellers have lost the luxury of bidding wars, "buyers have a lot of choice," said Carolyn Pratt, president of the Realtors Association of Edmonton - which released the figures, Wednesday.
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" [$ K2 p# A4 r- B `& H, kAverage prices of single-family homes fell 3.2 per cent, in August, to $403,757. That rolls them back to the levels of March and April. But they're still up 27.6 per cent from 12 months earlier.' Y4 `. H6 y6 |- B: W" R& W
* @( `5 o$ O% MPercentage-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.: W7 J, d; V8 \3 a2 K
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& a/ k0 k: v% k, H* u: ^ A© Edmonton Journal 2007 |
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