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http://calsun.canoe.ca/News/Alberta/2007/10/02/4542538-sun.html
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3 N. z2 S l2 A$ T2 L1 b* ATue, October 2, 20074 P; f0 v4 U# p% q3 x
House prices drop $10K in Calgary
1 ^ |: f2 p0 J. VUPDATED: 2007-10-02 01:41:36 MST) x2 C! W7 J! s) N! V! N1 P: k$ ^
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. \* {1 A! X5 [* Z2 r: PBy PABLO FERNANDEZ, SUN MEDIA. I5 a- h5 E1 T# J
. l2 J4 M: ^% sCalgary house prices sank $10,000 last month, the fourth decline in a row as inventory jumped and sales slumped, according to statistics released yesterday. z; S: I: X* A/ i( \
8 d# @1 {( b" \* g+ qThe 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.
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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."1 t2 Q) G/ T( I, ?2 o' y7 ]
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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.4 _# J# I# T- [5 Y \
4 }+ n, t/ m1 t/ \7 [6 |The pattern was identical in the condominium market, where more supply and fewer sales also resulted in more affordable prices." k' G9 {: N6 W7 P
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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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6 F J8 }- _4 @3 ?* [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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