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http://calsun.canoe.ca/News/Alberta/2007/10/02/4542538-sun.html
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( R J' T+ {) S U; BTue, October 2, 2007% G' `2 G& B5 A& `* a% `3 n
House prices drop $10K in Calgary
5 Z( F7 S3 A0 A# ~# G4 i( h bUPDATED: 2007-10-02 01:41:36 MST! H" a* q8 a! L
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3 [6 F. I7 p, x0 J, h, [! f3 JBy PABLO FERNANDEZ, SUN MEDIA
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4 m2 G7 L0 z* Z+ ?! PCalgary house prices sank $10,000 last month, the fourth decline in a row as inventory jumped and sales slumped, according to statistics released yesterday.
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$ k1 r% ]& ? j7 m; h C' kThe median price of homes, the middle value of homes sold, fell to $420,500 last month, down from $430,000 in August, said the Calgary Real Estate Board in its monthly housing sales report.
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Yet, despite the falling prices, CREB president Ron Stanners said city home prices are still higher now than they were last year at this time.2 F z: R, T0 n1 |0 F5 q( C* j. l0 S
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"The market place is very good right now, but it has slowed down over the last three or four months," said Stanners. "It's beginning to move more towards a buyers' market but even still, sellers are still getting much more today than they were this time last year."
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- ]8 H, o& ]4 K, a% QIn fact, the median price of single-family homes in Calgary remained 9.68% higher in September than the same month last year. The number of single-family homes on the market jumped 5.15%, but sales slipped 19.03% in September from August, CREB figures say.; r1 x I6 t5 W, V0 e! F9 c
6 L( N+ V: S* b* e. NThe pattern was identical in the condominium market, where more supply and fewer sales also resulted in more affordable prices.
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, I/ e8 s0 H) c+ ZThe number of condos going up for sale in September increased 10.88% over August, while there was a 12.66% decrease in units sold.
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5 \& I+ m( [! r8 I$ T) ^2 y: r# gThe average house price in September was recorded at $470,888, down slightly from the August average price of $485,914. |
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