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EDMONTON - Edmonton home prices dropped an average of 6.5 per cent in November from October.
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Single-family houses fell 5.3 per cent to $376,267 while condos were down four per cent to $252,277. ) s# m" r2 _+ t/ ]% \
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Edmonton house prices now are down $50,000 from their May peak of $426,028./ W+ N; F$ g% T1 p
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The volatile mixed category of duplexes and rowhouses plummeted 15.4 per cent to $311,193.9 U$ ]# K( J& c" e6 n
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The 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."
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During November, residential inventory dropped to 8,667 properties from 9,577 a month earlier., q6 n4 p( a& }4 y- i
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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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