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http://calsun.canoe.ca/News/Alberta/2007/10/02/4542538-sun.html
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Tue, October 2, 2007
& [4 ^5 G$ d' Q- b) v8 XHouse prices drop $10K in Calgary
4 e' f, E- I7 b! E2 `) D2 QUPDATED: 2007-10-02 01:41:36 MST' {9 @0 U& i5 L# k4 l2 V4 Y5 e) V W* h
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By PABLO FERNANDEZ, SUN MEDIA, G( Y+ M9 e3 v* q6 ^
8 }/ E% o& r2 {6 S* ]Calgary house prices sank $10,000 last month, the fourth decline in a row as inventory jumped and sales slumped, according to statistics released yesterday.
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2 |0 j6 S/ B N5 I% o d$ oThe 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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+ ] A: N% c( c& x v! z# GYet, 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 O8 G& y' L8 p1 Z. C8 I2 }
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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."3 ^, v" n l8 e* H Y3 h
2 w0 b, S! A# ^; Z8 xIn 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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. {8 [: E! V" D; z5 O( G/ a3 HThe 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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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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