Edmonton home prices dropped an average of 6.5 per cent in November from October

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EDMONTON - Edmonton home prices dropped an average of 6.5 per cent in November from October.

Single-family houses fell 5.3 per cent to $376,267 while condos were down four per cent to $252,277.

: @+ C2 [0 k" A% u9 b# L" `/ @6 zEdmonton house prices now are down $50,000 from their May peak of $426,028.

  Q% Q# P0 _& t# JThe volatile mixed category of duplexes and rowhouses plummeted 15.4 per cent to $311,193.
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The average for all housing forms, $325,060, is still up 15.1 per cent from November 2006.

"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."

During November, residential inventory dropped to 8,667 properties from 9,577 a month earlier.
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3 m! x, v, g/ P6 X1 V- S, x8 EPratt predicted that inventory will continue to fall and that prices will rise slowly in the spring.

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4 H- s. Y4 x% H  T0 D狂砍价的后果终于出现了。

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