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Edmonton housing prices have largest one-month drop in city's history. s! O: [* j, A: K- @: ~$ P9 f
Edmonton Journal
( p: Y( p& w/ y4 ~9 ]$ \Published: 12:09 pm) r/ K0 s8 `; ^5 g: c2 G
Edmonton-area home prices fell by almost $10,000 in August - the deepest drop in this city's history.
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& }* v' R. Y# W8 AThe August average of $344,792, for all forms of housing, was down 2.8 per cent from July.- X- o6 z y7 U2 |) R) G; t: F
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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.0 X- b1 I! |' o, J7 n6 o5 K* Z" d
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) z" B' U2 r, ~- L7 pOne year earlier, inventory was just 2,138 units.
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5 Y6 v' [/ c* Z3 U: {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.+ m9 u: S4 L% u9 s1 X; W8 L* r
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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.' o( I9 ?/ N# E% E1 u9 e
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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./ z3 L. q+ Y, A. b& T
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© Edmonton Journal 2007 |
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