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Edmonton housing prices have largest one-month drop in city's history
3 Y5 E) f5 ]: q3 K+ oEdmonton Journal* Q' J4 P' Z F% X
Published: 12:09 pm! O* ]5 c; @2 \, F! t: E
Edmonton-area home prices fell by almost $10,000 in August - the deepest drop in this city's history.# U9 k% f3 F8 m B) E
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The August average of $344,792, for all forms of housing, was down 2.8 per cent from July.1 |6 |2 U% k; L8 A" ]" e
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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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One 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.# K/ ?* K) n5 A7 N+ F( \6 {6 E( a
& i2 |9 _" b4 n9 y9 U E8 `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.; \$ [/ {6 E, k/ ~( `( ?0 d1 u- m
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© Edmonton Journal 2007 |
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