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Edmonton housing prices have largest one-month drop in city's history
8 C. ?. P" k4 \3 H: Z+ SEdmonton Journal; H1 P9 o) x o+ G
Published: 12:09 pm( l/ j8 f$ ]% @% Y: _
Edmonton-area home prices fell by almost $10,000 in August - the deepest drop in this city's history.
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/ E' f% c9 e( ~( |2 {The August average of $344,792, for all forms of housing, was down 2.8 per cent from July.
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" v' l! n' F+ }/ M6 MInventory 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.: |) S: v; q* ~
; q; ?" S' v' c' M GWhile 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.6 e8 G' s+ k! a
! _ J* j! l; i1 [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.
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© Edmonton Journal 2007 |
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