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http://calsun.canoe.ca/News/Alberta/2007/10/02/4542538-sun.html
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Tue, October 2, 20071 Q) R- T: c4 U9 w) |0 s
House prices drop $10K in Calgary8 L6 y# P% F7 Q! V2 ]5 B, R; e" K
UPDATED: 2007-10-02 01:41:36 MST8 C2 p; _2 F' l& j! u& g9 V. D
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By PABLO FERNANDEZ, SUN MEDIA) Q+ W+ a' g3 h) ]
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Calgary house prices sank $10,000 last month, the fourth decline in a row as inventory jumped and sales slumped, according to statistics released yesterday.
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) {8 J& k% i& [% j, vThe median price of homes, the middle value of homes sold, fell to $420,500 last month, down from $430,000 in August, said the Calgary Real Estate Board in its monthly housing sales report.
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' T) j. W. Y* U0 O0 h' I! f! N* HYet, despite the falling prices, CREB president Ron Stanners said city home prices are still higher now than they were last year at this time.
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"The market place is very good right now, but it has slowed down over the last three or four months," said Stanners. "It's beginning to move more towards a buyers' market but even still, sellers are still getting much more today than they were this time last year."4 M. P" W: R1 v7 a7 J! n( k
3 i J4 E1 |, wIn fact, the median price of single-family homes in Calgary remained 9.68% higher in September than the same month last year. The number of single-family homes on the market jumped 5.15%, but sales slipped 19.03% in September from August, CREB figures say.
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% I% ?# L. w4 a+ l8 N3 |The pattern was identical in the condominium market, where more supply and fewer sales also resulted in more affordable prices.
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6 L8 K' \, f* fThe number of condos going up for sale in September increased 10.88% over August, while there was a 12.66% decrease in units sold.
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/ D z0 i8 N5 Q& YThe average house price in September was recorded at $470,888, down slightly from the August average price of $485,914. |
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