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http://calsun.canoe.ca/News/Alberta/2007/10/02/4542538-sun.html
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Tue, October 2, 2007
* j$ G5 n6 W1 R" p s8 D$ N% }House prices drop $10K in Calgary
- P+ P, Y9 P5 g% n) P2 G0 S) Z4 p* gUPDATED: 2007-10-02 01:41:36 MST
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. D0 d) A* i0 D; k TBy PABLO FERNANDEZ, SUN MEDIA G2 ?) p- z. z! J5 Z
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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.( b! S( ~* R: R! F
+ e8 d+ R" C' _/ @5 Q% aThe median price of homes, the middle value of homes sold, fell to $420,500 last month, down from $430,000 in August, said the Calgary Real Estate Board in its monthly housing sales report.
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Yet, despite the falling prices, CREB president Ron Stanners said city home prices are still higher now than they were last year at this time.
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" Q" b* K J4 S6 k1 v$ k"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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! k# N0 U. s+ @# |, iIn 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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, W/ N! Q1 a( `! t" V% bThe number of condos going up for sale in September increased 10.88% over August, while there was a 12.66% decrease in units sold.8 ^, ?( x" f: Q" r. O% M6 d% B/ {- H3 E4 ^
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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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