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http://calsun.canoe.ca/News/Alberta/2007/10/02/4542538-sun.html
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Tue, October 2, 2007
+ D2 C- J) @$ n3 \1 B8 K" A5 WHouse prices drop $10K in Calgary% G* a C- ]; P; p2 d
UPDATED: 2007-10-02 01:41:36 MST8 q, u( m1 y7 u8 H) N
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By PABLO FERNANDEZ, SUN MEDIA* U* Z4 d$ c/ x
5 m# B* F$ ~: _/ `! d* W) ]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.
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( u2 W% |% L5 ]( [! }: uThe median price of homes, the middle value of homes sold, fell to $420,500 last month, down from $430,000 in August, said the Calgary Real Estate Board in its monthly housing sales report.
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( i, j- M3 D( d6 ^Yet, despite the falling prices, CREB president Ron Stanners said city home prices are still higher now than they were last year at this time.. I: j9 b( ~, ]8 U2 ~0 @
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"The market place is very good right now, but it has slowed down over the last three or four months," said Stanners. "It's beginning to move more towards a buyers' market but even still, sellers are still getting much more today than they were this time last year."( c# w$ a) H# l* C3 O
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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.- }+ _4 y: @+ y6 q9 }7 M ~
4 H) u1 M& l6 i& |. t v+ |( VThe pattern was identical in the condominium market, where more supply and fewer sales also resulted in more affordable prices.
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" P1 C6 F) ]6 L' L% y' c9 `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.* m- D; q+ X& _% n$ V z
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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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