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EDMONTON - Edmonton home prices dropped an average of 6.5 per cent in November from October.
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* g7 f% f6 u/ L5 u) H# l& y5 i! tSingle-family houses fell 5.3 per cent to $376,267 while condos were down four per cent to $252,277. 0 ~0 t5 ~# y, b0 v; c+ z7 K
/ }' |" H; P7 C# F8 tEdmonton house prices now are down $50,000 from their May peak of $426,028.
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1 A9 R. ~/ h+ B4 H v8 l [! UThe 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.
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7 D% x5 ?; }& N. H H( r& Q"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."0 O- y( Y+ q/ A, r, m
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During November, residential inventory dropped to 8,667 properties from 9,577 a month earlier.
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K; H- \% z7 k* S; h# R" `0 [Pratt predicted that inventory will continue to fall and that prices will rise slowly in the spring. |
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