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.

# 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.

" O& f6 u' e; c1 wEdmonton house prices now are down $50,000 from their May peak of $426,028.

The volatile mixed category of duplexes and rowhouses plummeted 15.4 per cent to $311,193.

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.

Pratt predicted that inventory will continue to fall and that prices will rise slowly in the spring.

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! N) @6 Z: T) W" a: J0 ~7 [5 d狂砍价的后果终于出现了。

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