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http://calsun.canoe.ca/News/Alberta/2007/10/02/4542538-sun.html
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Tue, October 2, 2007
6 H" d+ F3 K. Q+ c! X" g' V# v- dHouse prices drop $10K in Calgary: E) K* l* [ Z+ a/ N L
UPDATED: 2007-10-02 01:41:36 MST
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: D9 D2 s/ h/ \3 TBy PABLO FERNANDEZ, SUN MEDIA' D. ]2 k' w# F) q+ {, J: w: I
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Calgary house prices sank $10,000 last month, the fourth decline in a row as inventory jumped and sales slumped, according to statistics released yesterday.
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" x. {$ H. u4 C# yThe 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.1 Q* O0 }* D3 ?+ O% y: B
3 M* G! |# u8 Y: M6 L CYet, 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 j6 l0 p- E* @7 }0 I8 E4 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."
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2 V: {7 {9 _& d0 ~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./ L6 n- u* j/ W. Z/ w O9 g% C
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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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* P. g* g. _7 d, L1 U) H+ T- b4 {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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