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Edmonton housing prices have largest one-month drop in city's history
3 X1 f0 x0 U; M" a0 w/ wEdmonton Journal
& x* b7 M% V' O9 @- rPublished: 12:09 pm
4 V9 J. j. Y1 u8 IEdmonton-area home prices fell by almost $10,000 in August - the deepest drop in this city's history.
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The August average of $344,792, for all forms of housing, was down 2.8 per cent from July., n4 I0 k ?' m* A) ^) D
( u- Q3 C& B5 V1 e8 S, r( f, ^Inventory rose to a record level of 9,185 listings with 4,331 homes newly listed during the month and only 1,229 sold.
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One year earlier, inventory was just 2,138 units.. \+ I1 {! J1 b/ d n8 a6 y' ~
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While sellers have lost the luxury of bidding wars, "buyers have a lot of choice," said Carolyn Pratt, president of the Realtors Association of Edmonton - which released the figures, Wednesday.' Y$ r7 h y7 P* K& ^
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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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/ }* v8 R' q" {5 M. `8 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 X3 _* V0 C8 M4 ?, L' I
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© Edmonton Journal 2007 |
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