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EDMONTON - Edmonton home prices dropped an average of 6.5 per cent in November from October.- C7 x' Z% ]& [% A
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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. " V+ K; W% D: W' z g
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Edmonton house prices now are down $50,000 from their May peak of $426,028.
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5 v% ?8 @. G* _* O+ d, JThe volatile mixed category of duplexes and rowhouses plummeted 15.4 per cent to $311,193.% r) R5 }. l+ H5 V K h# b
7 q, f. |: W- O% E; q2 \7 x2 RThe average for all housing forms, $325,060, is still up 15.1 per cent from November 2006.
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"The current market is very price-sensitive," Carolyn Pratt, president of the Realtors Association of Edmonton, said today. "If property is not priced right for this market, it may languish in the listings."
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% y( _/ e8 y$ c, h: nDuring November, residential inventory dropped to 8,667 properties from 9,577 a month earlier.
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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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