Edmonton home prices dropped an average of 6.5 per cent in November from October

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EDMONTON - Edmonton home prices dropped an average of 6.5 per cent in November from October.
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9 V9 V+ B- x$ c- A' X- j/ W4 k# q; dSingle-family houses fell 5.3 per cent to $376,267 while condos were down four per cent to $252,277.

Edmonton house prices now are down $50,000 from their May peak of $426,028.

4 a' j- G  F+ x* Q' L5 C+ HThe volatile mixed category of duplexes and rowhouses plummeted 15.4 per cent to $311,193.

+ `* y$ M+ h; o) mThe average for all housing forms, $325,060, is still up 15.1 per cent from November 2006.

0 _( o% C/ V& o"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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0 M1 l8 h" k" s- f( I! x9 yPratt predicted that inventory will continue to fall and that prices will rise slowly in the spring.

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6 D6 R, X" S; r* m2 h狂砍价的后果终于出现了。

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