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Edmonton housing prices have largest one-month drop in city's history. d; y) Y7 o( D: a
Edmonton Journal8 m; Z$ ~, }- ] L
Published: 12:09 pm
! O! X; y+ j$ Z+ S1 z; XEdmonton-area home prices fell by almost $10,000 in August - the deepest drop in this city's history.% Q p5 e4 u. y# |
8 y, A& W8 Z# u. e# NThe August average of $344,792, for all forms of housing, was down 2.8 per cent from July.0 J% K9 x) {6 j, i
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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.
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8 B% O" I7 i8 l4 P, [# o# T, NOne year earlier, inventory was just 2,138 units.
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& y8 S5 O9 b/ A2 [, R# r" RWhile 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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2 j, M: n9 F4 t3 IAverage 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 C( v* ]: C3 B9 u# B( T* J5 f" R+ oPercentage-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 $10,720.
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' s$ M+ L( A# T* x N$ c& T- F© Edmonton Journal 2007 |
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