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Edmonton housing prices have largest one-month drop in city's history
! s- T2 W& ~8 H) Q7 n" y' NEdmonton Journal8 e7 o" R4 C5 y# V2 }2 \" j
Published: 12:09 pm
) a+ Y' V( @- z" ]( R6 m! xEdmonton-area home prices fell by almost $10,000 in August - the deepest drop in this city's history.
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2 x" l! L% R: C, v" _The August average of $344,792, for all forms of housing, was down 2.8 per cent from July.
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. f) L- y+ H0 z- I LInventory rose to a record level of 9,185 listings with 4,331 homes newly listed during the month and only 1,229 sold., u* o( Y2 z* F
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& q1 U, j* _! L" b1 u cOne year earlier, inventory was just 2,138 units.
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While sellers have lost the luxury of bidding wars, "buyers have a lot of choice," said Carolyn Pratt, president of the Realtors Association of Edmonton - which released the figures, Wednesday.8 s& H* F6 A% P$ r8 F( a/ g
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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.( k" }" r8 L( ]2 |( U) t% U
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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.
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© Edmonton Journal 2007 |
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