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http://calsun.canoe.ca/News/Alberta/2007/10/02/4542538-sun.html
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1 _4 M% d* Y# Q' M* ^& `7 N3 J9 oTue, October 2, 2007. ~1 x4 ^1 e9 S5 N& Z
House prices drop $10K in Calgary
8 g" B( }$ }0 r I) w! wUPDATED: 2007-10-02 01:41:36 MST
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By PABLO FERNANDEZ, SUN MEDIA
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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. V# R8 Q/ o: ^+ p
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The median price of homes, the middle value of homes sold, fell to $420,500 last month, down from $430,000 in August, said the Calgary Real Estate Board in its monthly housing sales report.9 o/ n o8 A# v
1 a. n$ b, H* {' HYet, 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 m! b2 `$ H/ T0 h, S" e. C9 } \
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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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7 f% N# d2 H# W; R7 _8 s$ [: nIn 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.- b& r5 D! S. M0 P8 q
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The pattern was identical in the condominium market, where more supply and fewer sales also resulted in more affordable prices., t( E3 N7 V& ?2 Y
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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.9 H3 h1 }* X$ P1 @! @
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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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