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Edmonton housing prices have largest one-month drop in city's history! x* p0 O [0 }% P
Edmonton Journal1 |5 [# M9 x3 n! I% z! m
Published: 12:09 pm
- e9 B/ \+ z- ~5 u$ cEdmonton-area home prices fell by almost $10,000 in August - the deepest drop in this city's history.+ F- L! I+ W- i! @6 Z' F; V
& D9 h9 \; ]! F% M* IThe August average of $344,792, for all forms of housing, was down 2.8 per cent from July.
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" Y) b- S# n fInventory rose to a record level of 9,185 listings with 4,331 homes newly listed during the month and only 1,229 sold.+ E& y% U8 k' T: s
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( E z/ R/ V5 z- {9 U8 @7 x; gOne year earlier, inventory was just 2,138 units.
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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.
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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.1 q( K. e3 Z& _* P2 l! E
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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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; g! P" B4 ~6 S( Z5 H' t© Edmonton Journal 2007 |
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