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http://calsun.canoe.ca/News/Alberta/2007/10/02/4542538-sun.html
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* C4 M+ }: |$ l4 [- H# pTue, October 2, 2007; q; D% [! d0 ^1 k) N! m: d
House prices drop $10K in Calgary, y3 ?' O/ b5 g7 ]
UPDATED: 2007-10-02 01:41:36 MST& {' O1 a8 p* }& C' ?
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By PABLO FERNANDEZ, SUN MEDIA+ H6 k' Q( f+ N9 k+ c; _
) L! C0 B3 R% O" OCalgary house prices sank $10,000 last month, the fourth decline in a row as inventory jumped and sales slumped, according to statistics released yesterday.0 ]! B5 |6 |* e( r! }' _9 Q" e
/ L! D$ L& ^6 CThe median price of homes, the middle value of homes sold, fell to $420,500 last month, down from $430,000 in August, said the Calgary Real Estate Board in its monthly housing sales report.2 B5 B+ \0 \5 A! o$ _/ o7 d% c
1 @ V& v, U6 S, K4 K7 Z6 XYet, despite the falling prices, CREB president Ron Stanners said city home prices are still higher now than they were last year at this time.
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, ?: o2 |- ~ K3 K6 Q"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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/ q4 }! |: |/ s2 j; 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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The 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 Q7 k y: j: c& s: r* @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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