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http://calsun.canoe.ca/News/Alberta/2007/10/02/4542538-sun.html
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/ }3 e" [% q! o0 dTue, October 2, 20074 m) w; F) j) D! E2 k. h8 ^: ?
House prices drop $10K in Calgary
7 j" i' D" f5 D v& I* WUPDATED: 2007-10-02 01:41:36 MST
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, G. T) W7 h% O( v3 b5 kBy PABLO FERNANDEZ, SUN MEDIA
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! H( m& [5 j/ j& ACalgary house prices sank $10,000 last month, the fourth decline in a row as inventory jumped and sales slumped, according to statistics released yesterday.# F2 O' c0 [; g& Z9 f, i% g% D
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The median price of homes, the middle value of homes sold, fell to $420,500 last month, down from $430,000 in August, said the Calgary Real Estate Board in its monthly housing sales report.
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Yet, despite the falling prices, CREB president Ron Stanners said city home prices are still higher now than they were last year at this time.# @* T& \8 }3 M- {2 u
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"The market place is very good right now, but it has slowed down over the last three or four months," said Stanners. "It's beginning to move more towards a buyers' market but even still, sellers are still getting much more today than they were this time last year."
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In fact, the median price of single-family homes in Calgary remained 9.68% higher in September than the same month last year. The number of single-family homes on the market jumped 5.15%, but sales slipped 19.03% in September from August, CREB figures say.5 A$ g) r4 }. L* p
+ D" H/ a4 N+ L8 |" w2 R% E4 GThe pattern was identical in the condominium market, where more supply and fewer sales also resulted in more affordable prices.
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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+ `* I8 n8 ^- b5 eThe average house price in September was recorded at $470,888, down slightly from the August average price of $485,914. |
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