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Edmonton housing prices have largest one-month drop in city's history7 j5 k+ f6 W! c3 {; A* O8 a$ E, t; c
Edmonton Journal6 T, A& a( l- n, x- W
Published: 12:09 pm
- s& ?+ z2 p. e6 ~Edmonton-area home prices fell by almost $10,000 in August - the deepest drop in this city's history.
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2 v: l# Q5 O- y$ G; }" A" `; oThe August average of $344,792, for all forms of housing, was down 2.8 per cent from July.
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. f& `, i" }- {7 Y5 iInventory rose to a record level of 9,185 listings with 4,331 homes newly listed during the month and only 1,229 sold.$ f! ~ P+ n9 g6 ^ E9 F7 p& Q
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# A+ [2 h* B3 z9 u9 M! y" H7 w8 p- ?; UOne year earlier, inventory was just 2,138 units.
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% W9 V& s/ I: W9 i) w* DWhile 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.( P) x, R' j% S' r- m' k9 {) X; l" i
# D0 ~! t! ~4 n- [6 i( ?6 fPercentage-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 $10,720.% r" e1 f# _, h; ]: w
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5 N% `6 x- E6 t4 l$ r© Edmonton Journal 2007 |
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