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http://calsun.canoe.ca/News/Alberta/2007/10/02/4542538-sun.html
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Tue, October 2, 2007
/ v' R9 N) R( l+ p# a* f1 E6 [House prices drop $10K in Calgary: Y9 \; N3 B1 Q& l
UPDATED: 2007-10-02 01:41:36 MST
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, Y+ w7 Y9 S* WBy 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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( E4 k" G5 p7 @The median price of homes, the middle value of homes sold, fell to $420,500 last month, down from $430,000 in August, said the Calgary Real Estate Board in its monthly housing sales report.
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; X' C# ~" u5 [7 q2 r2 d5 f7 [Yet, despite the falling prices, CREB president Ron Stanners said city home prices are still higher now than they were last year at this time.) A( O9 R& Q6 r2 A' U% L# t8 [1 |
3 Y- S/ C2 u$ D5 U"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."4 E/ }, `9 ~: h+ {* u. Y
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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.
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The pattern was identical in the condominium market, where more supply and fewer sales also resulted in more affordable prices.& T" s( D4 L1 d) \
& a" m( W* z5 R% o3 T3 xThe number of condos going up for sale in September increased 10.88% over August, while there was a 12.66% decrease in units sold." h* ^3 D. R3 m) c+ e
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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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