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http://calsun.canoe.ca/News/Alberta/2007/10/02/4542538-sun.html
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Tue, October 2, 2007& Q& S! b* D) O l
House prices drop $10K in Calgary: D) ^ ^0 |" b2 o% T
UPDATED: 2007-10-02 01:41:36 MST6 O W6 i" e2 Y* r/ R7 C9 L6 U+ {
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9 f" [5 e+ `. c3 R2 j' qBy PABLO FERNANDEZ, SUN MEDIA
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; O- a& B+ g+ X6 I( ~5 rCalgary house prices sank $10,000 last month, the fourth decline in a row as inventory jumped and sales slumped, according to statistics released yesterday.- h# `. A) V' g" U8 t6 n+ C" ^
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The median price of homes, the middle value of homes sold, fell to $420,500 last month, down from $430,000 in August, said the Calgary Real Estate Board in its monthly housing sales report.. J! A. R9 c* l
" r ]; a, x) i' T" @+ TYet, despite the falling prices, CREB president Ron Stanners said city home prices are still higher now than they were last year at this time.$ R6 E2 c; g% C: f
4 z7 S3 t3 Z/ z- [- Y( i# |6 j"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."! p& {' ]4 H1 D. u
0 Y% W1 ^( @+ P! X5 cIn 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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The pattern was identical in the condominium market, where more supply and fewer sales also resulted in more affordable prices.
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6 t0 M0 @" e1 w/ GThe number of condos going up for sale in September increased 10.88% over August, while there was a 12.66% decrease in units sold./ ^$ B3 |( `9 d3 ]4 f# V
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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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