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http://calsun.canoe.ca/News/Alberta/2007/10/02/4542538-sun.html
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Tue, October 2, 2007
( \: a1 W# D- b( i2 e& DHouse prices drop $10K in Calgary
% Z+ b/ F: o, p! Z0 XUPDATED: 2007-10-02 01:41:36 MST: f* F7 z5 U7 e) \$ G
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By PABLO FERNANDEZ, SUN MEDIA0 c& A0 y7 `" z
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Calgary house prices sank $10,000 last month, the fourth decline in a row as inventory jumped and sales slumped, according to statistics released yesterday.
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" c$ m! ]8 l/ k/ ]The 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.. N7 U, v/ {5 W3 C
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Yet, despite the falling prices, CREB president Ron Stanners said city home prices are still higher now than they were last year at this time.0 Y" U! n% P; r% c+ ~; Q. s
/ y# ~" E% ? S* n. b( y. k"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."* i- v8 J0 b% ?; Z4 e
$ U5 S3 U+ j1 Z5 M: S& eIn 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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& S Y/ }- G$ Q e5 [" rThe pattern was identical in the condominium market, where more supply and fewer sales also resulted in more affordable prices.% X/ d# [7 M$ e' Q. t8 v
# N8 G; S/ W, S. p/ cThe 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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: W# n+ |, I& r0 Q/ [, y p1 }The average house price in September was recorded at $470,888, down slightly from the August average price of $485,914. |
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