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.

" n) G- ?  g- OSingle-family houses fell 5.3 per cent to $376,267 while condos were down four per cent to $252,277.

8 h7 Q5 h+ p6 G' P, ?2 I$ U" V8 LEdmonton house prices now are down $50,000 from their May peak of $426,028.
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! H/ c8 l: s2 J# P+ b$ pThe volatile mixed category of duplexes and rowhouses plummeted 15.4 per cent to $311,193.
, s' f% X8 j8 o+ i4 [% k5 u# u( a  \
- D3 W+ }5 X2 x$ L7 c5 {" y6 D7 M) \/ SThe average for all housing forms, $325,060, is still up 15.1 per cent from November 2006.

"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."

$ s( ?! l! \, C' o7 V4 LDuring November, residential inventory dropped to 8,667 properties from 9,577 a month earlier.

. a" p' E1 R! `5 Z" m+ WPratt predicted that inventory will continue to fall and that prices will rise slowly in the spring.

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8 `9 w' Y7 [/ l# \狂砍价的后果终于出现了。

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