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http://calsun.canoe.ca/News/Alberta/2007/10/02/4542538-sun.html$ q9 x: G9 a7 F( B
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Tue, October 2, 2007
" I) K* a( G+ A1 gHouse prices drop $10K in Calgary
+ L" V0 v! O% z( f4 ^UPDATED: 2007-10-02 01:41:36 MST
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. ^9 o6 B% }6 H) m4 J4 KBy PABLO FERNANDEZ, SUN MEDIA+ w0 {7 i7 ]) Z/ m* T
; R5 K9 u9 T8 i' V/ C$ F) N+ kCalgary house prices sank $10,000 last month, the fourth decline in a row as inventory jumped and sales slumped, according to statistics released yesterday.$ S1 O8 ^% ^$ Y
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The median price of homes, the middle value of homes sold, fell to $420,500 last month, down from $430,000 in August, said the Calgary Real Estate Board in its monthly housing sales report.
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; d. T. c- K- e4 t2 l8 tYet, despite the falling prices, CREB president Ron Stanners said city home prices are still higher now than they were last year at this time.7 b r* i2 A2 e) k* h5 R7 K- R
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"The market place is very good right now, but it has slowed down over the last three or four months," said Stanners. "It's beginning to move more towards a buyers' market but even still, sellers are still getting much more today than they were this time last year."# |' X/ Z0 I: \: y1 | C" T. ^
\- K! Q* m; v' t% n# y/ W jIn fact, the median price of single-family homes in Calgary remained 9.68% higher in September than the same month last year. The number of single-family homes on the market jumped 5.15%, but sales slipped 19.03% in September from August, CREB figures say., S U! T; |+ q' |
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The pattern was identical in the condominium market, where more supply and fewer sales also resulted in more affordable prices.$ L5 e" c+ e) M6 ?3 U) k* \# p
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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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0 o) P7 ^5 _; oThe average house price in September was recorded at $470,888, down slightly from the August average price of $485,914. |
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