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Edmonton housing prices have largest one-month drop in city's history
' Y, Y6 l2 n2 B- Q1 i) mEdmonton Journal. t8 u& Q9 }0 A4 a; _ S
Published: 12:09 pm
+ H+ c7 F4 C- W! K4 YEdmonton-area home prices fell by almost $10,000 in August - the deepest drop in this city's history.2 D# b: O" u8 p2 Q+ N0 @
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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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Inventory rose to a record level of 9,185 listings with 4,331 homes newly listed during the month and only 1,229 sold.4 Z* v; v% d* a4 Z- t2 O
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One year earlier, inventory was just 2,138 units." k6 w) `" S. ]2 ~! ?3 }
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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.5 p: q( m; j% ]7 Q0 {
0 E5 I2 i9 ?7 o; B& T+ k2 W3 J+ CAverage 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.4 E+ {, O( h: S# t0 }5 k2 Z
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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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© Edmonton Journal 2007 |
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