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EDMONTON - Edmonton home prices dropped an average of 6.5 per cent in November from October.
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Single-family houses fell 5.3 per cent to $376,267 while condos were down four per cent to $252,277. 8 {- N4 Q' M0 _4 I% K
) w4 Q7 S! m7 CEdmonton house prices now are down $50,000 from their May peak of $426,028.
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! y k5 s' ~8 y W1 l/ h4 KThe volatile mixed category of duplexes and rowhouses plummeted 15.4 per cent to $311,193.4 a; I2 g0 P7 ^9 n( U1 V
' k% x( o- U+ W1 JThe average for all housing forms, $325,060, is still up 15.1 per cent from November 2006.
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% P. a8 W/ R: @"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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8 A0 D! F% `) r. e4 N8 |) dDuring November, residential inventory dropped to 8,667 properties from 9,577 a month earlier." u6 ]2 G, z: g
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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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