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http://calsun.canoe.ca/News/Alberta/2007/10/02/4542538-sun.html+ r& t" a. G1 A- `0 ?
/ j0 B7 B9 g9 E# d) \Tue, October 2, 2007' Q* ^# _8 l! M3 G
House prices drop $10K in Calgary
* c/ ?! M/ G! `6 J9 M1 x8 wUPDATED: 2007-10-02 01:41:36 MST+ |) l5 K7 J. p! z
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8 C+ ~/ i% r( u6 [& t* X2 rBy PABLO FERNANDEZ, SUN MEDIA
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" V3 H% I: L6 H+ 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 L5 X' V. f3 N" k- w" c
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The median price of homes, the middle value of homes sold, fell to $420,500 last month, down from $430,000 in August, said the Calgary Real Estate Board in its monthly housing sales report.8 J2 M& J5 n, Y
% }% w" _7 g$ T" f) r: IYet, 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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" o. X% N! J8 V% m9 I r' L"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.". _/ C4 J) T1 v$ v0 Z
; v( i. `; u; CIn 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., y7 e" E! n6 |7 _
* O7 S; J1 ? F+ {0 z) nThe pattern was identical in the condominium market, where more supply and fewer sales also resulted in more affordable prices.5 n5 z; i! e, e% u! M
4 L {, y0 }, h# G' zThe number of condos going up for sale in September increased 10.88% over August, while there was a 12.66% decrease in units sold.. j9 M; @, u# I
8 @ j2 e5 `6 j5 h J9 Z. X4 HThe average house price in September was recorded at $470,888, down slightly from the August average price of $485,914. |
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