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http://calsun.canoe.ca/News/Alberta/2007/10/02/4542538-sun.html
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* M9 b& r5 g5 RTue, October 2, 2007
. ~2 c. [8 l/ X0 v3 f7 ^House prices drop $10K in Calgary. T# b# G* A; U' [9 ^
UPDATED: 2007-10-02 01:41:36 MST
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4 L7 X; R. q4 C V* jBy PABLO FERNANDEZ, SUN MEDIA
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* r4 w% v$ Z! c$ Q& [. e: YCalgary house prices sank $10,000 last month, the fourth decline in a row as inventory jumped and sales slumped, according to statistics released yesterday.
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+ C: w9 }$ w1 LThe median price of homes, the middle value of homes sold, fell to $420,500 last month, down from $430,000 in August, said the Calgary Real Estate Board in its monthly housing sales report.& K k% @& j0 w5 S
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Yet, despite the falling prices, CREB president Ron Stanners said city home prices are still higher now than they were last year at this time.
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i& N# O8 S ^* T"The market place is very good right now, but it has slowed down over the last three or four months," said Stanners. "It's beginning to move more towards a buyers' market but even still, sellers are still getting much more today than they were this time last year."' s* w2 P `0 n* c
. H$ r6 b0 Q# z$ vIn 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.$ `7 L5 \! J9 l
/ n# @2 Q/ G2 Z: `7 ?The pattern was identical in the condominium market, where more supply and fewer sales also resulted in more affordable prices.0 d5 @+ P/ B, F- H. }: H
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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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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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