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Edmonton housing prices have largest one-month drop in city's history
5 R: J" Y2 ?" a0 rEdmonton Journal
- Q: E& w0 t. OPublished: 12:09 pm; _$ {/ @9 u7 G0 J
Edmonton-area home prices fell by almost $10,000 in August - the deepest drop in this city's history.7 H2 I! U* a) d
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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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7 l% J7 e7 T1 e7 sInventory 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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6 h I/ A' ~0 K5 TOne year earlier, inventory was just 2,138 units.3 H7 ^' T! s* _ r" d5 M
$ ~) c2 |6 c1 U, a4 p* ]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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9 X N0 m' |. w( Q7 v1 hAverage 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.% h8 q% x2 D. D/ A& l% E" }
0 j( q8 T. |& z2 O8 a+ 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 $10,720.9 z. B7 b8 C3 ]& j* q: o
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. Q6 }" L% S! Z, n( z8 k( C) w© Edmonton Journal 2007 |
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