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EDMONTON - Edmonton home prices dropped an average of 6.5 per cent in November from October.
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- K, ^$ y# U5 C5 M5 @Single-family houses fell 5.3 per cent to $376,267 while condos were down four per cent to $252,277. 3 S. p$ o( t1 n+ J3 p
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Edmonton house prices now are down $50,000 from their May peak of $426,028.7 ~+ s- d# F3 o0 e- U9 I7 r' i
" K" ?7 G" Z) V; CThe volatile mixed category of duplexes and rowhouses plummeted 15.4 per cent to $311,193.
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( j2 {# }' T2 Z. AThe average for all housing forms, $325,060, is still up 15.1 per cent from November 2006.
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"The current market is very price-sensitive," Carolyn Pratt, president of the Realtors Association of Edmonton, said today. "If property is not priced right for this market, it may languish in the listings."2 i* ^* o; x) A3 K% O1 _. F1 o
6 f- }8 e: G2 a. D. L& VDuring November, residential inventory dropped to 8,667 properties from 9,577 a month earlier.
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4 p, M6 c9 {, J: B$ h, h+ h' NPratt predicted that inventory will continue to fall and that prices will rise slowly in the spring. |
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