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http://calsun.canoe.ca/News/Alberta/2007/10/02/4542538-sun.html
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Tue, October 2, 20070 c7 J* h- i" @- n8 A Q
House prices drop $10K in Calgary( t8 y% Y3 l* h, E3 m- c) d7 c
UPDATED: 2007-10-02 01:41:36 MST
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! a! y' O" q' l+ E: ?( ?By PABLO FERNANDEZ, SUN MEDIA
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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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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.: U5 o" V8 Q# D; P
9 n; c; u: ]* m( u* B& xYet, 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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- T9 g3 J- j. j" A! }"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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4 |8 [% t9 T5 s) {- ~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." f7 c* y; j, K" F; F b
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The pattern was identical in the condominium market, where more supply and fewer sales also resulted in more affordable prices.6 R6 b% l; N" B! E: }6 X
4 v! I. P8 c7 L9 C, KThe number of condos going up for sale in September increased 10.88% over August, while there was a 12.66% decrease in units sold.; A9 v G) s0 ^! @5 J) y9 w; T
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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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