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http://calsun.canoe.ca/News/Alberta/2007/10/02/4542538-sun.html
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" N- E- _4 U& S# L8 r; i( B3 U' CTue, October 2, 2007* K- u7 c; K6 F2 s& V
House prices drop $10K in Calgary
4 a1 m9 I1 g) T1 R- UUPDATED: 2007-10-02 01:41:36 MST4 W; h: ]) a6 X9 h' c& G- ~, h
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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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3 D/ j# B7 _7 d, uThe median price of homes, the middle value of homes sold, fell to $420,500 last month, down from $430,000 in August, said the Calgary Real Estate Board in its monthly housing sales report.) H* C2 W D( m4 Q; [9 ?9 m# g$ D
* m8 I, Q+ V* l; t0 I* _: oYet, 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 e% N' U6 C* l. b# n( `3 b# u
" u" w( {4 `% |" ^" j% 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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( h: m- O, p* T9 N6 Z% y& f1 u$ OIn 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.2 H& I7 ]- Y u7 W/ `+ h
# E9 Y, i% g5 H/ }The pattern was identical in the condominium market, where more supply and fewer sales also resulted in more affordable prices.1 s4 e) ]9 U. G# A- @# z) d
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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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. J: C" U, Z2 t; l) B# o* g, ?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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