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Edmonton housing prices have largest one-month drop in city's history! |& h7 U2 W/ t$ j! w2 p2 ]/ ]' a
Edmonton Journal5 ?3 Z" |* e( j& f
Published: 12:09 pm" Y, V* u$ ^4 i3 y
Edmonton-area home prices fell by almost $10,000 in August - the deepest drop in this city's history.
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5 ?/ ^. Q% F3 g: }/ KThe August average of $344,792, for all forms of housing, was down 2.8 per cent from July." N& z% o: w: ^6 D) c) f# y' O/ v
. E" I4 R0 i. P! U7 t+ o( C; w$ yInventory rose to a record level of 9,185 listings with 4,331 homes newly listed during the month and only 1,229 sold. t2 g7 I. T2 T8 N9 r! X: F. p
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1 |3 M! ?) _6 Y' `4 j( [One year earlier, inventory was just 2,138 units.0 k5 k5 ]; {( |$ b6 ?( z
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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.9 V" X4 _- b9 }, H( `. G ^1 }
4 ?0 o$ u( b" kAverage prices of single-family homes fell 3.2 per cent, in August, to $403,757. That rolls them back to the levels of March and April. But they're still up 27.6 per cent from 12 months earlier.
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- Q$ W0 V6 q- UPercentage-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 $10,720.
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/ [6 [/ v( l$ ?© Edmonton Journal 2007 |
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