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Edmonton housing prices have largest one-month drop in city's history' x5 ^, h+ t: `* U# c- }8 l
Edmonton Journal' g& Y+ X [- J2 f4 W& y' {
Published: 12:09 pm
' e% N: u+ V. K1 z5 N+ o' gEdmonton-area home prices fell by almost $10,000 in August - the deepest drop in this city's history.. V- N# [. @/ b! k' d
8 y. x: D6 a# a7 ZThe August average of $344,792, for all forms of housing, was down 2.8 per cent from July.
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Inventory rose to a record level of 9,185 listings with 4,331 homes newly listed during the month and only 1,229 sold.2 J W) P% {9 C* C" r7 e
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& ]- e5 r& I$ tOne year earlier, inventory was just 2,138 units.
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" [; f4 `9 N3 LWhile 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.2 K6 }6 M' b% j& I6 A. U
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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+ Q9 ?. \, U
; N8 ^. h9 N# O& f8 JPercentage-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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+ z ^; _3 U2 _! F© Edmonton Journal 2007 |
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