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Edmonton housing prices have largest one-month drop in city's history$ _+ \) Q& S0 B8 c$ @; h
Edmonton Journal [! H6 ]% |$ p! `9 Y
Published: 12:09 pm1 D" i) W- M% Q& l1 \5 d, Y, Y
Edmonton-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 $344,792, for all forms of housing, was down 2.8 per cent from July.
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Inventory rose to a record level of 9,185 listings with 4,331 homes newly listed during the month and only 1,229 sold.: g& u6 e- i$ ]# Z# C) X* `4 Q* h
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8 ]% }# O! z- }$ `( Y" B3 }One year earlier, inventory was just 2,138 units.
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0 O% ~. `2 W% B9 d* G" gWhile 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./ h+ y: k; ]+ V
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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.! O5 p& i; h- |+ x, Y
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Percentage-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 $10,720.3 [( b! b* B# [0 _( P
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© Edmonton Journal 2007 |
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