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Edmonton housing prices have largest one-month drop in city's history8 o* p/ G0 E6 z9 r
Edmonton Journal
! c L* _6 P( \7 x" V9 K# b0 ePublished: 12:09 pm
5 d7 m" p8 d8 a7 d( {$ ]" d3 ~8 G' dEdmonton-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 $344,792, for all forms of housing, was down 2.8 per cent from July.+ @0 C( Y$ u& ?1 r
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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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& g, a& A& h' m0 W0 U4 \One year earlier, inventory was just 2,138 units.) N+ `7 m3 O! k9 S9 A
% F& r d" k( aWhile 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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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.
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0 [& j3 F& y5 D# vPercentage-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.' o" ]2 |2 e9 P% Q# z! Q+ W
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( ], C4 T& ?% e4 z9 t+ S© Edmonton Journal 2007 |
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