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EDMONTON - Edmonton home prices dropped an average of 6.5 per cent in November from October.2 D' \, j4 ]1 @1 k
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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.
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Z% i; v1 U( ~, m' n5 BEdmonton house prices now are down $50,000 from their May peak of $426,028.4 \% G6 M# |1 b0 }: B. R
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The volatile mixed category of duplexes and rowhouses plummeted 15.4 per cent to $311,193.& O9 N' F+ p0 g( O9 z
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The average for all housing forms, $325,060, is still up 15.1 per cent from November 2006.
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" f' }. [# R$ e. e* B"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.
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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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