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http://calsun.canoe.ca/News/Alberta/2007/10/02/4542538-sun.html
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0 |5 T5 q: E8 P5 E# _8 [; Y5 y6 dTue, October 2, 2007
9 p4 @5 [7 b6 f/ R% B+ x W6 s( C: uHouse prices drop $10K in Calgary, W8 P: K, T! C4 G }# R+ p
UPDATED: 2007-10-02 01:41:36 MST) w2 o) G; q/ E0 h2 s- ]
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5 K8 f8 k! V- I. B$ Y/ J7 \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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The median price of homes, the middle value of homes sold, fell to $420,500 last month, down from $430,000 in August, said the Calgary Real Estate Board in its monthly housing sales report.
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$ L3 p8 \! w% _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.
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: w8 @6 k$ }1 ]"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."& G5 v& K6 `! }6 t: L
$ d( P0 v/ w1 e8 b' 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.9 e+ ]9 T5 J& k# |+ J1 ~6 f
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The pattern was identical in the condominium market, where more supply and fewer sales also resulted in more affordable prices.
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4 O3 c9 z& z# Z5 ZThe number of condos going up for sale in September increased 10.88% over August, while there was a 12.66% decrease in units sold., Y! q. b8 }% v
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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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