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http://calsun.canoe.ca/News/Alberta/2007/10/02/4542538-sun.html" F# C/ n9 Q% _ V. I
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Tue, October 2, 2007
/ W; t/ t8 G: E4 G2 _2 W0 p) sHouse prices drop $10K in Calgary
" I5 u) N* T& J: i+ lUPDATED: 2007-10-02 01:41:36 MST
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\8 U! b% J( x, wBy PABLO FERNANDEZ, SUN MEDIA! i* t3 w# c- m% S! s' U
8 K2 |3 A% v2 ]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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The median price of homes, the middle value of homes sold, fell to $420,500 last month, down from $430,000 in August, said the Calgary Real Estate Board in its monthly housing sales report.
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' V6 S+ ]" U5 L% F1 nYet, despite the falling prices, CREB president Ron Stanners said city home prices are still higher now than they were last year at this time. a. q' [. k9 g- F$ e5 z
; k2 O) O9 p4 I1 r; h" L"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."! z+ ~' c7 W" N* U4 y, a) \2 N$ j
. J1 N* g+ d, o3 k5 s' p) VIn 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.1 l8 G) h& [+ N' ~
) v, m& X( u1 k& B4 }0 e, H8 \ S5 [The pattern was identical in the condominium market, where more supply and fewer sales also resulted in more affordable prices.
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: @( f3 b/ g' V/ X! u9 _) ?5 v! l' ]* j8 MThe 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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$ C4 E( g8 W0 C0 ~2 ]& j( k7 HThe average house price in September was recorded at $470,888, down slightly from the August average price of $485,914. |
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