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http://calsun.canoe.ca/News/Alberta/2007/10/02/4542538-sun.html
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Tue, October 2, 2007& U: r7 B2 a' m0 J( ^# f
House prices drop $10K in Calgary( X! b* O% f- D( R; W
UPDATED: 2007-10-02 01:41:36 MST2 q2 l" L" _9 C( R. U( [8 @
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By PABLO FERNANDEZ, SUN MEDIA8 e' s/ Z. S0 A5 Y' k5 ]: o6 y' J
7 Q$ P( [$ W& 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.
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The median price of homes, the middle value of homes sold, fell to $420,500 last month, down from $430,000 in August, said the Calgary Real Estate Board in its monthly housing sales report.
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Yet, despite the falling prices, CREB president Ron Stanners said city home prices are still higher now than they were last year at this time.* F% @- Q) q1 T+ v
3 S" s" I, Y m. r1 \"The market place is very good right now, but it has slowed down over the last three or four months," said Stanners. "It's beginning to move more towards a buyers' market but even still, sellers are still getting much more today than they were this time last year."
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0 X( }0 g- ]% S b9 j' ^ kIn fact, the median price of single-family homes in Calgary remained 9.68% higher in September than the same month last year. The number of single-family homes on the market jumped 5.15%, but sales slipped 19.03% in September from August, CREB figures say.( @( o) G, L+ d$ g G6 i+ H
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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.2 G- c, X* m3 J' e$ I& A
- K! I% S3 N& D$ ~$ {- ^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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