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Edmonton housing prices have largest one-month drop in city's history- ?% h3 j9 a6 a) ]$ y
Edmonton Journal7 O8 y3 n+ w; a0 }; z$ g
Published: 12:09 pm
- q. [$ P# N/ V. \Edmonton-area home prices fell by almost $10,000 in August - the deepest drop in this city's history.
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1 E O0 W0 O- T" @5 Y+ k7 _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., A! Y, M& I" S, Y0 y% Y) `6 s0 W
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One year earlier, inventory was just 2,138 units.
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% D# \% C2 [1 b, kWhile 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.7 j/ {! B( K" a& f- d: w0 c- T
% g0 m0 b: k. C1 c3 ]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.5 p5 L5 v, o- c# h
; |+ X; o+ V! r% ePercentage-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./ ^7 G5 A; b9 t. e3 S1 G A
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, L. q3 Z d3 G© Edmonton Journal 2007 |
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