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http://calsun.canoe.ca/News/Alberta/2007/10/02/4542538-sun.html
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Tue, October 2, 2007
. k. W( l! {3 p" S/ a) ^) HHouse prices drop $10K in Calgary! `( l, I4 ^% E, z2 z8 C
UPDATED: 2007-10-02 01:41:36 MST" T4 i7 _ X. j9 i
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By PABLO FERNANDEZ, SUN MEDIA
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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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9 v6 ~' G) C7 m5 ~9 A3 B. fThe 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.! Y( I! Y D# h X `8 _" b3 G: t: g4 [
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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./ z& C1 j3 m2 i- F0 O
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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."
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! s6 K6 H1 [' \! bIn 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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The pattern was identical in the condominium market, where more supply and fewer sales also resulted in more affordable prices.- Q. w1 C+ ^7 G2 n
1 i. U% m& N) l1 q5 ]% K( jThe 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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- a `( r* H6 ~9 w9 ZThe average house price in September was recorded at $470,888, down slightly from the August average price of $485,914. |
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