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http://calsun.canoe.ca/News/Alberta/2007/10/02/4542538-sun.html
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Tue, October 2, 2007
" o+ d, n0 h" d- bHouse prices drop $10K in Calgary
1 X- Z6 v8 @: P* Z- f! lUPDATED: 2007-10-02 01:41:36 MST- n! f( b6 ?" u/ L3 ]0 o% y
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By PABLO FERNANDEZ, SUN MEDIA" m2 d& y9 O3 h8 b& f
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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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9 B: M& w; {, y# S: TThe median price of homes, the middle value of homes sold, fell to $420,500 last month, down from $430,000 in August, said the Calgary Real Estate Board in its monthly housing sales report.3 F% C% I* x) T! g f
; W/ [: C% p2 b+ n. z! X/ O9 DYet, despite the falling prices, CREB president Ron Stanners said city home prices are still higher now than they were last year at this time.
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"The market place is very good right now, but it has slowed down over the last three or four months," said Stanners. "It's beginning to move more towards a buyers' market but even still, sellers are still getting much more today than they were this time last year."3 u# h5 L: w. W& K& D a* e
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In fact, the median price of single-family homes in Calgary remained 9.68% higher in September than the same month last year. The number of single-family homes on the market jumped 5.15%, but sales slipped 19.03% in September from August, CREB figures say.7 R. h$ j g# c" v# y+ N
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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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1 \' {" P1 ^7 K V' z! }$ rThe number of condos going up for sale in September increased 10.88% over August, while there was a 12.66% decrease in units sold., ^& Y8 M& \, u% O* D7 |
' @$ Y2 [, x% ? lThe average house price in September was recorded at $470,888, down slightly from the August average price of $485,914. |
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