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http://calsun.canoe.ca/News/Alberta/2007/10/02/4542538-sun.html
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Tue, October 2, 2007
! y# { Y4 P5 k! E9 l* j% |House prices drop $10K in Calgary0 a! P$ c, C7 U8 o7 A
UPDATED: 2007-10-02 01:41:36 MST( A# H. L: Z! C. j. I
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$ {5 g) F$ J3 j9 K# e! o( v" iBy PABLO FERNANDEZ, SUN MEDIA8 |. c, P. P3 v' K! z/ q
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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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0 c4 `9 t. m. AThe median price of homes, the middle value of homes sold, fell to $420,500 last month, down from $430,000 in August, said the Calgary Real Estate Board in its monthly housing sales report.
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Yet, despite the falling prices, CREB president Ron Stanners said city home prices are still higher now than they were last year at this time.
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"The market place is very good right now, but it has slowed down over the last three or four months," said Stanners. "It's beginning to move more towards a buyers' market but even still, sellers are still getting much more today than they were this time last year."% ~5 [( {2 X+ e8 N, j& M" X
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In fact, the median price of single-family homes in Calgary remained 9.68% higher in September than the same month last year. The number of single-family homes on the market jumped 5.15%, but sales slipped 19.03% in September from August, CREB figures say.6 U5 ~ O- x" Z/ k
* q( X* F) M; B6 Y; i8 m6 KThe pattern was identical in the condominium market, where more supply and fewer sales also resulted in more affordable prices.5 _$ t+ I2 V, \: H* z+ q# G
6 Q: `# w7 Y- J3 R$ h3 ]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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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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