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http://calsun.canoe.ca/News/Alberta/2007/10/02/4542538-sun.html s5 g0 ]9 I- L: j8 H6 S* n5 T
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Tue, October 2, 2007
3 L+ `1 y$ [; [( iHouse prices drop $10K in Calgary, j t8 X6 h ]- u/ V& c' {1 w
UPDATED: 2007-10-02 01:41:36 MST% e7 l6 i [( M# j, J
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4 c, ~. [4 s! Q0 m# U G; dBy PABLO FERNANDEZ, SUN MEDIA s5 y! R8 q |% \
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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.' ~& d7 O- |3 g: b
# y7 }4 O6 a0 s6 E3 R1 o* j: SThe median price of homes, the middle value of homes sold, fell to $420,500 last month, down from $430,000 in August, said the Calgary Real Estate Board in its monthly housing sales report.
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Yet, despite the falling prices, CREB president Ron Stanners said city home prices are still higher now than they were last year at this time.8 X+ x/ d! s/ n: @1 X; R
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"The market place is very good right now, but it has slowed down over the last three or four months," said Stanners. "It's beginning to move more towards a buyers' market but even still, sellers are still getting much more today than they were this time last year."
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In fact, the median price of single-family homes in Calgary remained 9.68% higher in September than the same month last year. The number of single-family homes on the market jumped 5.15%, but sales slipped 19.03% in September from August, CREB figures say.3 g# S$ [ M( a1 X* K
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The pattern was identical in the condominium market, where more supply and fewer sales also resulted in more affordable prices.8 j& m7 N9 {9 ^7 M! L
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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.
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) [) F- u5 h' \" w2 e7 m; WThe average house price in September was recorded at $470,888, down slightly from the August average price of $485,914. |
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