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http://calsun.canoe.ca/News/Alberta/2007/10/02/4542538-sun.html
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Tue, October 2, 2007
& l' h4 y+ `( F, S5 v/ KHouse prices drop $10K in Calgary$ H# O2 |; t3 u- H5 @6 q
UPDATED: 2007-10-02 01:41:36 MST) U' S( t: N$ B) m: J
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By PABLO FERNANDEZ, SUN MEDIA9 B( D$ ?) M/ M% f3 n" L
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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.* i) p5 P: f- D; c& Q/ M
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The median price of homes, the middle value of homes sold, fell to $420,500 last month, down from $430,000 in August, said the Calgary Real Estate Board in its monthly housing sales report.7 L8 ^# K: T/ P. R
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Yet, despite the falling prices, CREB president Ron Stanners said city home prices are still higher now than they were last year at this time.
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9 X/ D7 D$ ~" p' ?2 y/ f"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."/ A3 N' {6 Y3 L
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In 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.3 a2 k) a6 R( ~9 J% D5 q* q; _
- V% k' d" `" C4 t; R dThe pattern was identical in the condominium market, where more supply and fewer sales also resulted in more affordable prices.- N7 H1 Y1 |. d) l5 `
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The number of condos going up for sale in September increased 10.88% over August, while there was a 12.66% decrease in units sold." T8 v% X! W7 a) P# I& b% Q
4 U4 @( N3 _: B% K h! ^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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