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EDMONTON - Edmonton home prices dropped an average of 6.5 per cent in November from October.9 D: l7 Y+ x I! ]
1 _8 k, o* V. }Single-family houses fell 5.3 per cent to $376,267 while condos were down four per cent to $252,277.
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Edmonton house prices now are down $50,000 from their May peak of $426,028.9 Y( u( t, X1 R0 K! D0 y' `1 m$ v
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The volatile mixed category of duplexes and rowhouses plummeted 15.4 per cent to $311,193.
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/ }/ U& K: f( S6 |/ R' b3 w8 CThe average for all housing forms, $325,060, is still up 15.1 per cent from November 2006.( K0 ?- E) _7 z9 q6 K
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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.", N- w9 C" T/ d' f3 H
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During November, residential inventory dropped to 8,667 properties from 9,577 a month earlier.8 O d* [5 d, s+ x7 w! j0 X
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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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