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http://calsun.canoe.ca/News/Alberta/2007/10/02/4542538-sun.html
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Tue, October 2, 2007) X& X9 `" s& o# f) N' e
House prices drop $10K in Calgary" o) m/ U6 A3 i2 Y6 x- |2 y3 C" Z
UPDATED: 2007-10-02 01:41:36 MST
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* H4 R K) e( S# E0 s9 bBy PABLO FERNANDEZ, SUN MEDIA
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1 Z; X3 z; O4 n9 `1 ECalgary house prices sank $10,000 last month, the fourth decline in a row as inventory jumped and sales slumped, according to statistics released yesterday.: T8 r$ `2 |0 q0 C4 _4 H: y
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The median price of homes, the middle value of homes sold, fell to $420,500 last month, down from $430,000 in August, said the Calgary Real Estate Board in its monthly housing sales report.# s' r# v1 E2 n2 L
" R( f3 h" j% n- ?/ C, Y2 fYet, despite the falling prices, CREB president Ron Stanners said city home prices are still higher now than they were last year at this time.6 c" _% m- u1 H
8 y2 |8 T& \+ ?4 w! K; w"The market place is very good right now, but it has slowed down over the last three or four months," said Stanners. "It's beginning to move more towards a buyers' market but even still, sellers are still getting much more today than they were this time last year.", l! d' [7 {; g: c% B; c
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In fact, the median price of single-family homes in Calgary remained 9.68% higher in September than the same month last year. The number of single-family homes on the market jumped 5.15%, but sales slipped 19.03% in September from August, CREB figures say.4 C) T3 ^8 u/ B+ b" c
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The pattern was identical in the condominium market, where more supply and fewer sales also resulted in more affordable prices.% W* Q) r% O/ P9 P$ v& \
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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.6 b3 q' I7 g/ E4 N6 u
9 k1 H( X( C! v$ M5 V& G) ]; O& fThe average house price in September was recorded at $470,888, down slightly from the August average price of $485,914. |
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