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Edmonton housing prices have largest one-month drop in city's history
) w; \) _; Z* B7 f. O( hEdmonton Journal# `+ a: T- b! @0 B) r9 ?% f
Published: 12:09 pm
6 _8 O7 ?; g% e+ l" J7 qEdmonton-area home prices fell by almost $10,000 in August - the deepest drop in this city's history.
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* f* Y* P0 {* PThe August average of $344,792, for all forms of housing, was down 2.8 per cent from July.
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+ t O9 t$ S$ B9 i5 nInventory 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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$ g2 C1 Q& f* q# EOne year earlier, inventory was just 2,138 units.3 J0 d: o9 ^) P- a% n
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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.
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" K# X# m- u4 TPercentage-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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7 G: P2 V! b. m- ^' T4 Y# ?© Edmonton Journal 2007 |
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