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http://calsun.canoe.ca/News/Alberta/2007/10/02/4542538-sun.html
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7 b! y7 B: ]8 FTue, October 2, 2007
# R# a9 |; r$ \House prices drop $10K in Calgary
# {' f, s% w6 @. aUPDATED: 2007-10-02 01:41:36 MST
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By PABLO FERNANDEZ, SUN MEDIA6 K ?! l2 v) M0 a) R% }4 g$ o, P' w
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Calgary house prices sank $10,000 last month, the fourth decline in a row as inventory jumped and sales slumped, according to statistics released yesterday.) e; V& C' U& k% C& \/ @/ W
f6 _5 c' m5 O# l$ WThe 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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1 q8 k* {; C" H7 T3 H"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." G4 c2 ^6 a9 D1 K! p
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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./ _6 c" n7 o! K
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The pattern was identical in the condominium market, where more supply and fewer sales also resulted in more affordable prices./ o8 \! j1 v. K, I/ ~
+ t2 U8 C4 C' {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.3 a3 y. u5 Q( M: Z. h4 W! @
% P& R8 E& \8 ^8 ^/ d* U4 i" B* b! tThe average house price in September was recorded at $470,888, down slightly from the August average price of $485,914. |
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