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EDMONTON - Edmonton home prices dropped an average of 6.5 per cent in November from October.
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2 ]8 n3 @# h+ p! K8 t8 QSingle-family houses fell 5.3 per cent to $376,267 while condos were down four per cent to $252,277. 4 j4 X+ B7 D5 j! O6 s% s0 ?
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Edmonton house prices now are down $50,000 from their May peak of $426,028.
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The volatile mixed category of duplexes and rowhouses plummeted 15.4 per cent to $311,193.
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8 \/ b3 \7 C2 `9 h( k' MThe average for all housing forms, $325,060, is still up 15.1 per cent from November 2006.
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# A, ]$ O; z$ Q& d" ^5 V. V5 I"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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E4 s* d1 {+ b1 {& _5 ?; fDuring November, residential inventory dropped to 8,667 properties from 9,577 a month earlier.
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Pratt predicted that inventory will continue to fall and that prices will rise slowly in the spring. |
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