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http://calsun.canoe.ca/News/Alberta/2007/10/02/4542538-sun.html
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1 n' J* G4 P7 \ v3 T3 BTue, October 2, 2007
/ P: C) \! P* CHouse prices drop $10K in Calgary+ f% O: T* M3 ` r- Y
UPDATED: 2007-10-02 01:41:36 MST
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- [' ~. [2 L R: d% D& {By PABLO FERNANDEZ, SUN MEDIA' T2 N6 J' Y( }* y
, W, G" g3 w! c& \& ^- P) xCalgary 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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! K: s! c M" y0 C- U) t# l* LThe median price of homes, the middle value of homes sold, fell to $420,500 last month, down from $430,000 in August, said the Calgary Real Estate Board in its monthly housing sales report.
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Yet, despite the falling prices, CREB president Ron Stanners said city home prices are still higher now than they were last year at this time.2 \# R/ [; Q1 k; e% s
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"The market place is very good right now, but it has slowed down over the last three or four months," said Stanners. "It's beginning to move more towards a buyers' market but even still, sellers are still getting much more today than they were this time last year."* m5 L% D7 m7 Y/ w( b$ h
3 m. W* Y* v6 A5 N) z9 r+ qIn 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.+ o1 }9 x+ h4 {
- u7 Q4 Z# u$ I6 oThe 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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