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Edmonton housing prices have largest one-month drop in city's history ?8 h7 h6 S) p0 W# Z2 D: R
Edmonton Journal; `4 Y, r4 R) T( |4 s. {3 p L
Published: 12:09 pm
& l* P+ F) d$ n5 x5 I, g7 HEdmonton-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 $344,792, for all forms of housing, was down 2.8 per cent from July.
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Inventory rose to a record level of 9,185 listings with 4,331 homes newly listed during the month and only 1,229 sold.9 B, X! s8 F8 v7 I. J. k
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9 |; @4 ^ d' z! \" R1 a& WOne year earlier, inventory was just 2,138 units.
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6 g5 V& u4 B8 gWhile sellers have lost the luxury of bidding wars, "buyers have a lot of choice," said Carolyn Pratt, president of the Realtors Association of Edmonton - which released the figures, Wednesday.
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0 [; g4 |5 m$ b2 OAverage 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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6 h1 ^ t5 w' z: k* m( HPercentage-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.; N% n2 I; ?' Z5 s
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© Edmonton Journal 2007 |
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