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Edmonton housing prices have largest one-month drop in city's history( E. {# b) O- j6 @# p4 ^
Edmonton Journal
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- [) l, E% f. Q' x) y: J3 d, E' _Edmonton-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 $344,792, for all forms of housing, was down 2.8 per cent from July.# {* f" I4 z/ W2 z' K7 R
5 j+ k1 q9 M ^4 Q4 l+ r, S! uInventory rose to a record level of 9,185 listings with 4,331 homes newly listed during the month and only 1,229 sold.. J" ]2 y/ I' C2 P3 ]0 X- Z. N% g
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One year earlier, inventory was just 2,138 units.
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While sellers have lost the luxury of bidding wars, "buyers have a lot of choice," said Carolyn Pratt, president of the Realtors Association of Edmonton - which released the figures, Wednesday.3 ~" ?, K4 f3 q8 J b
. v) D$ _" \% j$ y SAverage prices of single-family homes fell 3.2 per cent, in August, to $403,757. That rolls them back to the levels of March and April. But they're still up 27.6 per cent from 12 months earlier.; P, E, Y$ D' P& j( @8 f
( k1 e% V) i% p. Y4 r$ ZPercentage-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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© Edmonton Journal 2007 |
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