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EDMONTON - Edmonton home prices dropped an average of 6.5 per cent in November from October.) U% Z' R: M* ]7 Q$ v
# u( W5 O1 J( N3 |6 v; R0 WSingle-family houses fell 5.3 per cent to $376,267 while condos were down four per cent to $252,277. 5 \# X! V4 t+ u# y
" O& f6 u' e; c1 wEdmonton house prices now are down $50,000 from their May peak of $426,028. s) V* W5 ^- h5 H8 Z/ m! a
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The volatile mixed category of duplexes and rowhouses plummeted 15.4 per cent to $311,193.4 N! Q; D) t6 }
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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.; R2 b4 G: K- {* r Z- K
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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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