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http://calsun.canoe.ca/News/Alberta/2007/10/02/4542538-sun.html. x6 |3 E( L3 ?, H9 Q% l
7 E- v1 k: g" f ] C- Q5 b, cTue, October 2, 2007: L8 q c; L6 h4 ~5 W8 |+ ?4 @
House prices drop $10K in Calgary) v: m" V8 y. i, ]9 L/ v ?4 C
UPDATED: 2007-10-02 01:41:36 MST
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, h0 i5 K6 M8 \* ]By PABLO FERNANDEZ, SUN MEDIA
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' g% R; j6 s+ v! ]- p" zCalgary 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 $430,000 in August, said the Calgary Real Estate Board in its monthly housing sales report. {- Y5 H6 ~, e8 B! t
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Yet, despite the falling prices, CREB president Ron Stanners said city home prices are still higher now than they were last year at this time.3 R/ {$ j- j3 r* X& \7 B/ v; c
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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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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.
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. w# k# R0 ?; Y0 q+ iThe pattern was identical in the condominium market, where more supply and fewer sales also resulted in more affordable prices.
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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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7 e u5 c# f" B3 Q7 T' @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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