Edmonton home prices dropped an average of 6.5 per cent in November from October

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EDMONTON - Edmonton home prices dropped an average of 6.5 per cent in November from October.

; D3 X; _$ a! r+ l9 T+ x! eSingle-family houses fell 5.3 per cent to $376,267 while condos were down four per cent to $252,277.

* ]4 k% J0 U- u# k8 s/ h7 B/ P7 U5 mEdmonton house prices now are down $50,000 from their May peak of $426,028.

$ w  m. v" d! e5 z% T. k; [% x) ^The volatile mixed category of duplexes and rowhouses plummeted 15.4 per cent to $311,193.

% X% `7 ?& H3 QThe average for all housing forms, $325,060, is still up 15.1 per cent from November 2006.
$ l, ^+ x+ L* L1 ]/ |" T9 [0 Z5 l. C
"The current market is very price-sensitive," Carolyn Pratt, president of the Realtors Association of Edmonton, said today. "If property is not priced right for this market, it may languish in the listings."
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9 O. ^9 v7 b* k; i: U% jDuring November, residential inventory dropped to 8,667 properties from 9,577 a month earlier.

( Z; i! Q' `8 `! X6 I# g  yPratt predicted that inventory will continue to fall and that prices will rise slowly in the spring.

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1 j5 w! K) [3 W1 t0 ~9 N% M狂砍价的后果终于出现了。

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