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EDMONTON - Edmonton home prices dropped an average of 6.5 per cent in November from October.
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4 A3 L5 Q; ~' J7 S3 t0 n: q# q2 ]! ZSingle-family houses fell 5.3 per cent to $376,267 while condos were down four per cent to $252,277. 9 ]6 r8 A/ f) [9 S
% A Q. ~+ H! |7 [Edmonton house prices now are down $50,000 from their May peak of $426,028.7 n/ Z. R! y# m
# t$ V9 z! ~% Q( {( G8 C0 lThe volatile mixed category of duplexes and rowhouses plummeted 15.4 per cent to $311,193.
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7 f: g6 q, H" jThe 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."; i: A# K5 J/ h0 w7 a' F" W
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During November, residential inventory dropped to 8,667 properties from 9,577 a month earlier.# f% i+ P/ x* O! Z% V1 B8 S# Z
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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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