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EDMONTON - Edmonton home prices dropped an average of 6.5 per cent in November from October.
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( Y+ P; ^, Z+ |& ASingle-family houses fell 5.3 per cent to $376,267 while condos were down four per cent to $252,277.
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Edmonton house prices now are down $50,000 from their May peak of $426,028.6 J) U) U- u& J8 j+ G* w. ]
7 j3 F+ l$ |- u6 n& ]) t! kThe volatile mixed category of duplexes and rowhouses plummeted 15.4 per cent to $311,193.* e4 ]* A& D0 c6 m
' f$ z4 A2 G6 M; G3 Z6 D" bThe average for all housing forms, $325,060, is still up 15.1 per cent from November 2006.
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"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."2 a" ?/ J+ I. y6 \* z) E. N
8 @4 D) v. ^! X1 i! {8 v4 ~During 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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