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http://calsun.canoe.ca/News/Alberta/2007/10/02/4542538-sun.html- x9 b9 W. D0 Q, q) r, }
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Tue, October 2, 2007
$ f8 Y- b5 K" K) wHouse prices drop $10K in Calgary
. `- W+ H# }3 \. `5 cUPDATED: 2007-10-02 01:41:36 MST
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By PABLO FERNANDEZ, SUN MEDIA2 N+ Q0 S8 _9 d: s- e/ k! U
0 Z1 e a9 { N* l( M0 c, XCalgary 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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4 N% l7 B# ?- _, Q8 i# r4 IThe median price of homes, the middle value of homes sold, fell to $420,500 last month, down from $430,000 in August, said the Calgary Real Estate Board in its monthly housing sales report.
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Yet, despite the falling prices, CREB president Ron Stanners said city home prices are still higher now than they were last year at this time.) \8 U1 I, x% s8 K$ W2 q
" a/ Q) O3 B) C, A; t"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.", W& A9 l" X" }3 g! B
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In 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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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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