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Edmonton housing prices have largest one-month drop in city's history% r: l- g( t0 H H4 C0 p0 [+ ]# P
Edmonton Journal
- N) d8 C+ ?& F1 v2 l. ZPublished: 12:09 pm) v2 q8 |" t) x2 e( ^# r% L4 E
Edmonton-area home prices fell by almost $10,000 in August - the deepest drop in this city's history.3 K, \7 B. p5 K) b8 l' ?0 I4 i
( b7 _. F A5 QThe August average of $344,792, for all forms of housing, was down 2.8 per cent from July.
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+ Y) X3 M# g4 e2 f* h* g) |3 ~Inventory rose to a record level of 9,185 listings with 4,331 homes newly listed during the month and only 1,229 sold.
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) C+ M+ ~7 p, I+ V+ `% q0 KOne year earlier, inventory was just 2,138 units.
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! L& L. U$ d* L! k& T2 _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.0 g3 x1 l9 h/ k y2 |1 `& [9 j
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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.: K. {! y0 O% C/ w. [8 d
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7 h" N' Z5 x& o© Edmonton Journal 2007 |
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