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Edmonton housing prices have largest one-month drop in city's history# ?% j5 V& c5 ?4 [5 {& c# j
Edmonton Journal
; O) J: j' X# t$ R* {Published: 12:09 pm9 H* @4 m. S1 X4 h. I; o e; z
Edmonton-area home prices fell by almost $10,000 in August - the deepest drop in this city's history.$ }/ }) S6 |+ Y% W0 E
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The August average of $344,792, for all forms of housing, was down 2.8 per cent from July. E) t: \: O- g! S3 t L" f
9 |0 A2 f6 _! x( L6 AInventory rose to a record level of 9,185 listings with 4,331 homes newly listed during the month and only 1,229 sold./ \0 @* X6 _/ F% k/ E8 [
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- j; s3 } k; B1 JOne year earlier, inventory was just 2,138 units.% b5 Z, n0 ?' v
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While sellers have lost the luxury of bidding wars, "buyers have a lot of choice," said Carolyn Pratt, president of the Realtors Association of Edmonton - which released the figures, Wednesday.0 [) P1 P, ?7 i$ S% D0 W
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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.0 t+ j* m/ U# U, ]/ _7 g% l
7 F" z: P. e+ T0 V" APercentage-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., ~& G, H( `0 l2 q% Q: N
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© Edmonton Journal 2007 |
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