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http://calsun.canoe.ca/News/Alberta/2007/10/02/4542538-sun.html
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Tue, October 2, 2007
, Q+ E) h$ h1 Z+ }House prices drop $10K in Calgary1 _/ J3 |" O6 J* U
UPDATED: 2007-10-02 01:41:36 MST
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By PABLO FERNANDEZ, SUN MEDIA) \* A5 ]+ o0 O
/ d, z! D1 M. Z* N+ d$ KCalgary house prices sank $10,000 last month, the fourth decline in a row as inventory jumped and sales slumped, according to statistics released yesterday.* o" T' l7 @( z0 H; t9 O
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The median price of homes, the middle value of homes sold, fell to $420,500 last month, down from $430,000 in August, said the Calgary Real Estate Board in its monthly housing sales report.
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Yet, despite the falling prices, CREB president Ron Stanners said city home prices are still higher now than they were last year at this time.
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"The market place is very good right now, but it has slowed down over the last three or four months," said Stanners. "It's beginning to move more towards a buyers' market but even still, sellers are still getting much more today than they were this time last year."% g4 t% _% @3 i$ W
# x. C1 l2 ]( _# [ q! O/ }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.
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$ V+ j7 r- `# [8 m. w. b8 GThe pattern was identical in the condominium market, where more supply and fewer sales also resulted in more affordable prices.
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- Z; `/ j5 Z$ ]1 m& d, U2 J- YThe 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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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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