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EDMONTON - Edmonton home prices dropped an average of 6.5 per cent in November from October.
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' j8 s. [( l# M W3 f7 mSingle-family houses fell 5.3 per cent to $376,267 while condos were down four per cent to $252,277. ; C J( B" T; X6 L
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Edmonton 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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' ?0 M1 F8 n) ?& Y3 N3 F9 }The average for all housing forms, $325,060, is still up 15.1 per cent from November 2006.) G+ h5 i: Z# ]2 |
, X& q0 q- c( {8 u5 g"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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4 k, q6 s1 G5 ZPratt predicted that inventory will continue to fall and that prices will rise slowly in the spring. |
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