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EDMONTON - Edmonton home prices dropped an average of 6.5 per cent in November from October.+ W7 }4 @ ?% _0 w
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Single-family houses fell 5.3 per cent to $376,267 while condos were down four per cent to $252,277. # `$ o! C' i/ d; L3 c! W! C# _
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Edmonton house prices now are down $50,000 from their May peak of $426,028.
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7 V5 T, l$ M4 O) h# i! c$ b: s0 RThe volatile mixed category of duplexes and rowhouses plummeted 15.4 per cent to $311,193.' t- v" C$ Y* w& z; ], c: N9 c+ m
8 z; }) s. P* J% kThe average for all housing forms, $325,060, is still up 15.1 per cent from November 2006.
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"The current market is very price-sensitive," Carolyn Pratt, president of the Realtors Association of Edmonton, said today. "If property is not priced right for this market, it may languish in the listings.". w6 q2 n: _% [8 Z6 `! l
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During November, residential inventory dropped to 8,667 properties from 9,577 a month earlier.2 g5 [5 i# U$ i/ S
+ i, G0 A9 H1 {5 y' @4 jPratt predicted that inventory will continue to fall and that prices will rise slowly in the spring. |
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