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http://calsun.canoe.ca/News/Alberta/2007/10/02/4542538-sun.html
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0 I M1 K! O3 z1 j2 m# K4 N B2 HTue, October 2, 20070 g- a" G' B( j' i0 f
House prices drop $10K in Calgary: B8 q# I& Y3 ^; t2 ?
UPDATED: 2007-10-02 01:41:36 MST* I; | o% ]4 m5 V+ w
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0 L ]% V- Y6 O0 `5 p. A$ wBy PABLO FERNANDEZ, SUN MEDIA
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# `* z5 Q+ B; k3 n# F# ACalgary house prices sank $10,000 last month, the fourth decline in a row as inventory jumped and sales slumped, according to statistics released yesterday.6 A t% _. @. _# w5 D8 a
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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.4 ?+ ], n4 z Q" }# x
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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.. T; x& t; q% L3 v, r
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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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9 X0 D" \: d" h! `0 dIn 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.+ @- n3 _0 `+ ~% 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.
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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.
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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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