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http://calsun.canoe.ca/News/Alberta/2007/10/02/4542538-sun.html
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3 j5 Y6 F! J) V8 z/ A- ^2 QTue, October 2, 20078 C& ?) D% G# {: c2 l* G& S
House prices drop $10K in Calgary3 r3 a- ~' G, o% O/ g
UPDATED: 2007-10-02 01:41:36 MST
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3 N0 j( r8 c! B: s* Q5 ~' f4 tBy PABLO FERNANDEZ, SUN MEDIA
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Calgary house prices sank $10,000 last month, the fourth decline in a row as inventory jumped and sales slumped, according to statistics released yesterday.
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; M5 F. d* k& l$ Z/ G; s0 DThe median price of homes, the middle value of homes sold, fell to $420,500 last month, down from $430,000 in August, said the Calgary Real Estate Board in its monthly housing sales report.# A& x/ y; T0 X0 J. f, ~1 m j
; g9 L# J6 G# F, f2 W4 } p; gYet, despite the falling prices, CREB president Ron Stanners said city home prices are still higher now than they were last year at this time.
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"The market place is very good right now, but it has slowed down over the last three or four months," said Stanners. "It's beginning to move more towards a buyers' market but even still, sellers are still getting much more today than they were this time last year."
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( M% G! x4 u3 _+ a: pIn fact, the median price of single-family homes in Calgary remained 9.68% higher in September than the same month last year. The number of single-family homes on the market jumped 5.15%, but sales slipped 19.03% in September from August, CREB figures say.
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$ l% @) T; n+ T+ y) D3 yThe pattern was identical in the condominium market, where more supply and fewer sales also resulted in more affordable prices.3 \) N. f2 R. S9 C% x5 I6 E! C3 K
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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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: f# T) p Y& g3 `; o2 yThe average house price in September was recorded at $470,888, down slightly from the August average price of $485,914. |
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