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http://calsun.canoe.ca/News/Alberta/2007/10/02/4542538-sun.html
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Tue, October 2, 2007' e1 e: E5 }, @
House prices drop $10K in Calgary. \! b7 J* f; A- G4 v- Y w) S
UPDATED: 2007-10-02 01:41:36 MST
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- l, Y1 x! F/ }7 V+ I, i9 tBy PABLO FERNANDEZ, SUN MEDIA- @1 H1 j6 p* m" ~( `
6 g( R5 P. f+ n1 l$ FCalgary 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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( X7 ~8 {- ^' g, p: YThe median price of homes, the middle value of homes sold, fell to $420,500 last month, down from $430,000 in August, said the Calgary Real Estate Board in its monthly housing sales report.+ Z$ d* ~9 V7 w9 u" j7 }% F
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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.1 t% T3 c, F: t" y2 k
8 R1 C- N* I$ v6 R' `# r0 k* k; `+ V"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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The pattern was identical in the condominium market, where more supply and fewer sales also resulted in more affordable prices.) v! @$ L% o4 T
$ j1 W! P0 V! ^: w& u* }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.- _! X4 T- c0 P; t
) @: h; V6 ^2 `. \+ p6 ?9 W! GThe average house price in September was recorded at $470,888, down slightly from the August average price of $485,914. |
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