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Edmonton housing prices have largest one-month drop in city's history
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6 u" ?/ ~; w( r+ y `% D4 YPublished: 12:09 pm9 Q' X7 ?; d9 ?1 L9 ~
Edmonton-area home prices fell by almost $10,000 in August - the deepest drop in this city's history.
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+ W4 e) h. S! x; D) ^1 }0 k( [The August average of $344,792, for all forms of housing, was down 2.8 per cent from July.
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Inventory rose to a record level of 9,185 listings with 4,331 homes newly listed during the month and only 1,229 sold.$ f+ q1 ]7 m& i2 m: {$ Z
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9 g4 I/ |" e" R& r, `' rOne year earlier, inventory was just 2,138 units.. Q+ h% g T# Z5 j! @
! a w, m9 A) _" hWhile 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 S8 t4 ? N! H. @6 M
7 \6 m/ y- \* Z9 ?6 F1 N$ gAverage prices of single-family homes fell 3.2 per cent, in August, to $403,757. That rolls them back to the levels of March and April. But they're still up 27.6 per cent from 12 months earlier.
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; n" R" E: G$ |/ {& KPercentage-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 $10,720.4 n: b! b% I7 \9 L
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© Edmonton Journal 2007 |
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