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Edmonton housing prices have largest one-month drop in city's history
+ I$ n) Q- p# u$ [" vEdmonton Journal+ n' f: @3 d7 q" ~9 K' q
Published: 12:09 pm
) c/ ^. ]6 I$ F# I) eEdmonton-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.2 n6 B1 ?8 T# G# U# M
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One year earlier, inventory was just 2,138 units.: i2 W# ?1 g: ^, A! b( P
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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.
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9 Z' C" Z7 }# X: b5 _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.# T, D( U5 e( l& q7 n
' N0 g* B/ x h0 n" @2 F' PPercentage-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 $10,720.$ m2 l1 ?7 b8 c" V
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_+ e0 x8 X9 B. L) N8 v# ^( |4 H% U© Edmonton Journal 2007 |
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