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http://calsun.canoe.ca/News/Alberta/2007/10/02/4542538-sun.html
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+ \& P8 g0 X8 \ A5 O& c3 jTue, October 2, 2007
, G4 Q& j/ O4 ^* y7 Q oHouse prices drop $10K in Calgary
, r5 L! f/ R8 `- B& _% ~UPDATED: 2007-10-02 01:41:36 MST
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By PABLO FERNANDEZ, SUN MEDIA
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/ I& d! w1 A5 fCalgary 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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The median price of homes, the middle value of homes sold, fell to $420,500 last month, down from $430,000 in August, said the Calgary Real Estate Board in its monthly housing sales report.
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Yet, despite the falling prices, CREB president Ron Stanners said city home prices are still higher now than they were last year at this time.
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% w1 `) g1 G/ w' v# |"The market place is very good right now, but it has slowed down over the last three or four months," said Stanners. "It's beginning to move more towards a buyers' market but even still, sellers are still getting much more today than they were this time last year."
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In fact, the median price of single-family homes in Calgary remained 9.68% higher in September than the same month last year. The number of single-family homes on the market jumped 5.15%, but sales slipped 19.03% in September from August, CREB figures say.# d* C7 B$ I+ j3 J
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The pattern was identical in the condominium market, where more supply and fewer sales also resulted in more affordable prices.- U. B0 D |2 `
: p- m+ z6 ]. oThe number of condos going up for sale in September increased 10.88% over August, while there was a 12.66% decrease in units sold.; u/ r, e4 v1 H3 t' t; ?
, Q1 N& k* n9 ?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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