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http://calsun.canoe.ca/News/Alberta/2007/10/02/4542538-sun.html
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Tue, October 2, 2007
! I5 y' _ |; N, ]House prices drop $10K in Calgary0 T! a/ ?+ o0 f$ O7 D
UPDATED: 2007-10-02 01:41:36 MST
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By PABLO FERNANDEZ, SUN MEDIA
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! w D. z; L6 u( O' vCalgary house prices sank $10,000 last month, the fourth decline in a row as inventory jumped and sales slumped, according to statistics released yesterday.5 a4 l' U. }6 G4 E+ A
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The median price of homes, the middle value of homes sold, fell to $420,500 last month, down from $430,000 in August, said the Calgary Real Estate Board in its monthly housing sales report.8 m8 g/ x$ b0 }5 a
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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.7 g8 \3 q: J# r2 r
* o# B- n) z" y. e"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."' K- s8 K4 I- K) t. X8 o7 W1 p
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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.- N% h' q: D& n: r# c' J
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The pattern was identical in the condominium market, where more supply and fewer sales also resulted in more affordable prices.
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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.( y! K/ z' K" Y1 G# }# ~6 Q) C
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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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