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http://calsun.canoe.ca/News/Alberta/2007/10/02/4542538-sun.html
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0 B, ?$ Q7 N: |8 f3 rTue, October 2, 2007+ V* G) }, s, c' z# k7 x" l
House prices drop $10K in Calgary
6 Z1 {. t* B/ a6 Z' Z/ y' e/ kUPDATED: 2007-10-02 01:41:36 MST
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, y6 [& l2 d' P- ]$ A& u TBy PABLO FERNANDEZ, SUN MEDIA1 j; e$ R& o5 n& l$ \2 J
6 \% D- A7 U5 {8 R- }/ YCalgary house prices sank $10,000 last month, the fourth decline in a row as inventory jumped and sales slumped, according to statistics released yesterday.. E$ F A" ~, ^. p9 R" ~: |, x
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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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1 ^* \) n+ z, F# w7 s$ {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 g4 ^0 y! c% j0 D6 V, o
: {4 w) }1 t3 D, [# W7 u5 e"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.' F5 g4 g, j3 J, v, ~+ H! S
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The pattern was identical in the condominium market, where more supply and fewer sales also resulted in more affordable prices.9 ^0 r1 q8 g' _# F
" \1 a9 P7 k1 v& }9 O* ^$ rThe 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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