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http://calsun.canoe.ca/News/Alberta/2007/10/02/4542538-sun.html
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Tue, October 2, 2007
C& u6 r+ J. m5 _; H4 J$ ?/ oHouse prices drop $10K in Calgary
! G, p& Q, f0 Y" rUPDATED: 2007-10-02 01:41:36 MST; J" _" k, K0 x) J
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% w* o d: t- m* |/ @/ s/ FBy PABLO FERNANDEZ, SUN MEDIA6 t* q) m* n! H% o3 p7 h
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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. W6 A+ m# V, ?: u) v, z* B c3 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.
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1 q4 g, Y4 ^, |# D9 E: G" ]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., p- V6 B+ s7 ^/ e% z) k
. z: p, `& q! S( w |4 q* c9 h"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."( L0 O O7 k( L9 g3 Z- f4 e
: l3 Z @7 B/ U. dIn 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.. K4 {2 t- ]+ {8 H8 n6 |
$ l! D" @3 ?8 t- o! e7 iThe pattern was identical in the condominium market, where more supply and fewer sales also resulted in more affordable prices.6 o2 w5 _5 b, S
+ X" L/ c$ ~4 g: tThe number of condos going up for sale in September increased 10.88% over August, while there was a 12.66% decrease in units sold.+ \3 K ^( @( L! g) K
/ E0 b# s( e$ {7 a% H8 M2 BThe average house price in September was recorded at $470,888, down slightly from the August average price of $485,914. |
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