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Edmonton housing prices have largest one-month drop in city's history% C$ a& t: d: t8 w' S3 d
Edmonton Journal
" }$ K/ z( i7 H/ G; {Published: 12:09 pm" d9 |1 @9 M9 e R* j9 M& N
Edmonton-area home prices fell by almost $10,000 in August - the deepest drop in this city's history.: \1 J% f4 h1 I0 V& ^
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The August average of $344,792, for all forms of housing, was down 2.8 per cent from July.& i' k$ }1 K7 Z+ F! U# D5 | J0 c5 [, g
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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.6 y O1 O7 W, D+ b5 i
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! Y- j2 b/ h5 ^One year earlier, inventory was just 2,138 units." Y7 }; ^( O! Z* ^. a
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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.# O: J" E' g# b/ C
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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 $10,720.( } J2 V, D# a/ }$ G
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' \5 |2 w {7 \0 j! p2 o© Edmonton Journal 2007 |
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