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http://calsun.canoe.ca/News/Alberta/2007/10/02/4542538-sun.html+ x# S. P \9 Y/ T
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House prices drop $10K in Calgary4 k$ E/ o, Z& {* i
UPDATED: 2007-10-02 01:41:36 MST8 i" y! X$ w/ @/ X, O
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By PABLO FERNANDEZ, SUN MEDIA- h3 X; ~* P7 K
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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., N5 b5 y, |% _0 F, M, i
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The median price of homes, the middle value of homes sold, fell to $420,500 last month, down from $430,000 in August, said the Calgary Real Estate Board in its monthly housing sales report.
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Yet, despite the falling prices, CREB president Ron Stanners said city home prices are still higher now than they were last year at this time.
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: e1 } W: o5 N& \4 R0 B"The market place is very good right now, but it has slowed down over the last three or four months," said Stanners. "It's beginning to move more towards a buyers' market but even still, sellers are still getting much more today than they were this time last year."
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In fact, the median price of single-family homes in Calgary remained 9.68% higher in September than the same month last year. The number of single-family homes on the market jumped 5.15%, but sales slipped 19.03% in September from August, CREB figures say.* A( s/ p& s5 E0 J5 I# p
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The pattern was identical in the condominium market, where more supply and fewer sales also resulted in more affordable prices.- {* h# ?6 B; r
. N; Y. _$ X) m' p+ j( k5 UThe number of condos going up for sale in September increased 10.88% over August, while there was a 12.66% decrease in units sold.! d( k* V& `; g5 x4 e
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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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