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EDMONTON - Edmonton home prices dropped an average of 6.5 per cent in November from October.# D! X+ [ ?* o0 ?4 o& m
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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. 7 i, e2 Y3 O1 \
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Edmonton house prices now are down $50,000 from their May peak of $426,028.
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% J5 P, ~) F: ?6 pThe volatile mixed category of duplexes and rowhouses plummeted 15.4 per cent to $311,193.5 P- g4 e/ X0 h7 O; A. O# P
! M* v ~$ v- J9 P5 b/ Q! g8 JThe average for all housing forms, $325,060, is still up 15.1 per cent from November 2006.3 a7 C" Q- X/ {7 a, w
5 G( L, L {8 X o( Q& n"The current market is very price-sensitive," Carolyn Pratt, president of the Realtors Association of Edmonton, said today. "If property is not priced right for this market, it may languish in the listings."9 G5 l8 S+ y4 a' S- H
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During November, residential inventory dropped to 8,667 properties from 9,577 a month earlier.* H$ p- N3 o% S2 o
) z4 N# i9 }, O, ^! aPratt predicted that inventory will continue to fall and that prices will rise slowly in the spring. |
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