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Edmonton housing prices have largest one-month drop in city's history
0 N. ]7 x/ {: ZEdmonton Journal
$ j' p! \' k1 i1 E* e' hPublished: 12:09 pm
& @. B, U4 v+ f6 y* @; B! f2 \; i& ~Edmonton-area home prices fell by almost $10,000 in August - the deepest drop in this city's history.
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2 |8 D* T6 {- D% f* JThe August average of $344,792, for all forms of housing, was down 2.8 per cent from July.9 ?! P& r! T% ]2 C$ Y* J7 K3 o
7 R% ~/ g+ f. v- s8 r6 }% e+ P7 }. ]# eInventory rose to a record level of 9,185 listings with 4,331 homes newly listed during the month and only 1,229 sold.1 H% d' c& o' h n! C; K! v& Z7 A# ?
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One year earlier, inventory was just 2,138 units.1 r' ^' n2 D5 z0 F
: F0 y5 f U. aWhile 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.# U3 R" ^1 q! B: o$ d3 W0 l
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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., b/ y% U' F6 \( i
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8 y3 ~- G$ V2 F© Edmonton Journal 2007 |
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