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http://calsun.canoe.ca/News/Alberta/2007/10/02/4542538-sun.html5 M$ \! q& T8 h+ a8 N) ^
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Tue, October 2, 2007
/ z% W& P" u# ?2 ]& gHouse prices drop $10K in Calgary9 K5 z0 {; a$ t- V5 F7 @8 _0 r
UPDATED: 2007-10-02 01:41:36 MST1 Z6 b4 }& b9 D
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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.
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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. E7 @# `0 P/ k2 R4 o
: l6 E9 ]7 M2 W. A! F- z; q1 t# P/ V"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.1 y( l# h. J5 R* v
$ r! K$ B% h" R' m9 fThe pattern was identical in the condominium market, where more supply and fewer sales also resulted in more affordable prices.
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" m8 P! x4 d$ I) W% P, hThe number of condos going up for sale in September increased 10.88% over August, while there was a 12.66% decrease in units sold.2 C0 ]- \% o* b' y
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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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