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Edmonton housing prices have largest one-month drop in city's history
, \* O9 Z3 l4 ~Edmonton Journal' g9 ?2 [7 ^+ h3 G
Published: 12:09 pm
' I: o2 v4 E6 u! G0 YEdmonton-area home prices fell by almost $10,000 in August - the deepest drop in this city's history.
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3 Q+ c/ d- G( A7 }' _1 @The August average of $344,792, for all forms of housing, was down 2.8 per cent from July.5 p( h8 R ?: x s9 n$ ^
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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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8 R, p5 M! i* K( W. t9 U6 wOne year earlier, inventory was just 2,138 units.
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1 d. V8 u9 B/ J% }' lWhile 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.( J) C, ?* \" I6 @4 o& S" R
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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.
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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 $10,720.2 m& y4 t$ O( u' e# d0 J2 a
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3 ?# B5 z' {+ z© Edmonton Journal 2007 |
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