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EDMONTON - Edmonton home prices dropped an average of 6.5 per cent in November from October.7 [6 P0 q+ i& y6 u1 Q$ O, z/ Y
3 ~$ W9 }8 P, U: I: U3 RSingle-family houses fell 5.3 per cent to $376,267 while condos were down four per cent to $252,277.
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+ _: c2 y; a( TEdmonton house prices now are down $50,000 from their May peak of $426,028.
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The volatile mixed category of duplexes and rowhouses plummeted 15.4 per cent to $311,193.
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/ t3 T9 K% T7 \5 hThe average for all housing forms, $325,060, is still up 15.1 per cent from November 2006.; o8 k( ]+ |0 G( e" u! S$ n
* J4 ?8 N! o2 i"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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+ U" F) O# m fPratt predicted that inventory will continue to fall and that prices will rise slowly in the spring. |
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