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http://calsun.canoe.ca/News/Alberta/2007/10/02/4542538-sun.html
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Tue, October 2, 20072 v4 P+ `( |/ B/ d; b+ A
House prices drop $10K in Calgary6 k+ h- H! x; j3 S' W0 Y
UPDATED: 2007-10-02 01:41:36 MST
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- s6 L0 x6 `1 |* P0 V3 T/ t/ ~+ F8 w2 h$ QBy 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." M1 a+ x& b8 o
1 f: R6 O0 f! @1 [! Y, c6 A9 dThe median price of homes, the middle value of homes sold, fell to $420,500 last month, down from $430,000 in August, said the Calgary Real Estate Board in its monthly housing sales report.
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' a& b9 R& s+ |- }7 r, p9 ?) n* \# lYet, despite the falling prices, CREB president Ron Stanners said city home prices are still higher now than they were last year at this time. ^! p1 \ {; L8 s" {: e" i
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"The market place is very good right now, but it has slowed down over the last three or four months," said Stanners. "It's beginning to move more towards a buyers' market but even still, sellers are still getting much more today than they were this time last year."2 J1 W# ^" ^) D( t1 i
: h7 _& l2 \2 A- X$ d3 q4 N8 ZIn 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.: x, f" b$ z* @) q
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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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