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http://calsun.canoe.ca/News/Alberta/2007/10/02/4542538-sun.html
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Tue, October 2, 2007
?) z6 W' z l; J; rHouse prices drop $10K in Calgary- R" x5 I9 D2 v6 v8 p
UPDATED: 2007-10-02 01:41:36 MST, p8 ^5 h7 z/ O& K+ g
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By PABLO FERNANDEZ, SUN MEDIA
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2 L; ?- b8 O7 K4 o0 `) yCalgary house prices sank $10,000 last month, the fourth decline in a row as inventory jumped and sales slumped, according to statistics released yesterday.* Y5 v9 \0 [/ E* S9 S3 x
) X( d; G Z" E( J' k3 f/ QThe median price of homes, the middle value of homes sold, fell to $420,500 last month, down from $430,000 in August, said the Calgary Real Estate Board in its monthly housing sales report.! V; ?0 J* O# ?$ b/ \4 m
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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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; j' {( n4 C! o5 G"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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' c9 r' E' b: L3 A) AIn 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./ ^& R* P' W* j( S
" j" h2 a$ ^" `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.7 K3 N4 g+ K9 I) ?( l: R# n
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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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