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http://calsun.canoe.ca/News/Alberta/2007/10/02/4542538-sun.html
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5 P+ }% O- G; QTue, October 2, 20070 A4 k7 t+ {: s
House prices drop $10K in Calgary
0 Z( s: G. x% R7 JUPDATED: 2007-10-02 01:41:36 MST
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# h9 c" L9 S) l9 hBy PABLO FERNANDEZ, SUN MEDIA* o* _5 w1 H5 W" [
4 g, [8 K6 }7 e8 n$ l0 LCalgary 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.
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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.8 A' W5 E0 V" o4 n# j9 ^
7 S m5 N: J# M5 Z' Z( O"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." r/ m) R0 l! |# ]" E, o
( T4 b7 Y8 l& |+ a" |' M: iIn 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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) f6 E) u5 k3 ^* K; A4 s. ~; XThe pattern was identical in the condominium market, where more supply and fewer sales also resulted in more affordable prices.
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/ y# P a! Q3 x0 P% \; U5 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.0 q% n; p4 D1 i+ z2 |+ T
- l2 Q1 _: d* M; B, M* T- VThe average house price in September was recorded at $470,888, down slightly from the August average price of $485,914. |
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