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Edmonton housing prices have largest one-month drop in city's history+ h" D9 m% ^& L4 }* B
Edmonton Journal
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Edmonton-area home prices fell by almost $10,000 in August - the deepest drop in this city's history.# h4 P5 V9 d) r. [& I" u, p
. g1 C; s* Y) d' \/ X) \The August average of $344,792, for all forms of housing, was down 2.8 per cent from July.
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Inventory rose to a record level of 9,185 listings with 4,331 homes newly listed during the month and only 1,229 sold./ Q# q1 @/ P& g) _* G5 Y' I$ M
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3 ~9 A, M2 \6 g( E* N% P* x$ {8 i& vOne year earlier, inventory was just 2,138 units.3 T# ]1 Y K1 H/ b# e2 w
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While 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./ @# G4 x3 A w) j1 e& U
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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.
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/ H' x* B) j; _! B2 l" Y0 r© Edmonton Journal 2007 |
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