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http://calsun.canoe.ca/News/Alberta/2007/10/02/4542538-sun.html
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Tue, October 2, 2007
- H3 n1 Z% i( q" i2 }% p& Y+ \House prices drop $10K in Calgary4 r! V/ m1 @( U
UPDATED: 2007-10-02 01:41:36 MST
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9 G' d% Y; U- S8 S0 S# dBy PABLO FERNANDEZ, SUN MEDIA% v5 A" _) t% \7 Y
( K0 @( _2 R6 o7 H9 ]+ @ HCalgary 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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6 s9 [+ H. o+ L: H/ N' aThe median price of homes, the middle value of homes sold, fell to $420,500 last month, down from $430,000 in August, said the Calgary Real Estate Board in its monthly housing sales report.' P& i2 L! n% e# c
9 H0 Z& a. M+ t( EYet, despite the falling prices, CREB president Ron Stanners said city home prices are still higher now than they were last year at this time.1 W1 m. g$ o* X) }' N
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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."9 m- i. ?- l# I: U
3 v" Q; l1 I" a2 g% MIn 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.+ i% p8 A( [7 Z: @) m9 v5 S9 N
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The pattern was identical in the condominium market, where more supply and fewer sales also resulted in more affordable prices.4 e. I: B- z% {/ F# D
9 L1 y$ v# r2 M* g* V! T6 sThe 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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0 A) f* ~0 V3 k& T5 H& GThe average house price in September was recorded at $470,888, down slightly from the August average price of $485,914. |
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