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Edmonton housing prices have largest one-month drop in city's history7 X, d5 v% i( w; A( R; C) R
Edmonton Journal
* V' x& K% g- f- LPublished: 12:09 pm
3 f/ ~$ N$ D2 K1 U( OEdmonton-area home prices fell by almost $10,000 in August - the deepest drop in this city's history.
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" N. y- E/ c3 Y, t: t# [/ O9 a+ KThe August average of $344,792, for all forms of housing, was down 2.8 per cent from July.4 O. Q* p2 I( ~! o
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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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One year earlier, inventory was just 2,138 units.1 }& w. |0 a G% }! \" x% m. W8 }
" ~) c. @. i1 ]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." \: P- D, z6 r! b+ ]) S
2 z6 r+ y1 l1 T2 b1 m) Y" xAverage prices of single-family homes fell 3.2 per cent, in August, to $403,757. That rolls them back to the levels of March and April. But they're still up 27.6 per cent from 12 months earlier.
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, \. n! s& t$ a2 GPercentage-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 $10,720.8 }9 b* b3 J* W0 H
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& {% j3 s3 \9 ^: q2 r) E& V© Edmonton Journal 2007 |
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