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Edmonton housing prices have largest one-month drop in city's history
: {; r" |) d9 TEdmonton Journal
# Y. x1 G& z) C$ v. ?, L Y$ l$ aPublished: 12:09 pm
% x$ }# L# i* g. T2 y% TEdmonton-area home prices fell by almost $10,000 in August - the deepest drop in this city's history.8 Z. G8 d2 Z# d9 x( g
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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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0 C' {& K6 T6 n0 n) POne year earlier, inventory was just 2,138 units.
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9 P" C6 a" U' b8 Q1 | \% RWhile 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 $403,757. That rolls them back to the levels of March and April. But they're still up 27.6 per cent from 12 months earlier.$ N/ N( v9 u% S* @3 s6 z5 N
) {; q; G+ w9 c/ \3 C0 LPercentage-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.* V. X5 o, \" H
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© Edmonton Journal 2007 |
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