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http://calsun.canoe.ca/News/Alberta/2007/10/02/4542538-sun.html3 U& e$ R+ @! r* H2 T
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Tue, October 2, 2007
1 u9 s4 D; G, v2 K6 yHouse prices drop $10K in Calgary
0 z6 Y* K' H8 E4 j' }% s. rUPDATED: 2007-10-02 01:41:36 MST8 s( v6 x' D8 z% Q3 @* n3 C; a
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By PABLO FERNANDEZ, SUN MEDIA
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- C! V4 G5 ]! TCalgary house prices sank $10,000 last month, the fourth decline in a row as inventory jumped and sales slumped, according to statistics released yesterday. p2 L4 H/ D; A' }& k5 Q0 @9 L
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The median price of homes, the middle value of homes sold, fell to $420,500 last month, down from $430,000 in August, said the Calgary Real Estate Board in its monthly housing sales report.( `( s5 f( o" A! s& e, c6 \
+ R+ Q1 h8 w+ T _- mYet, despite the falling prices, CREB president Ron Stanners said city home prices are still higher now than they were last year at this time.
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"The market place is very good right now, but it has slowed down over the last three or four months," said Stanners. "It's beginning to move more towards a buyers' market but even still, sellers are still getting much more today than they were this time last year."
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In fact, the median price of single-family homes in Calgary remained 9.68% higher in September than the same month last year. The number of single-family homes on the market jumped 5.15%, but sales slipped 19.03% in September from August, CREB figures say.
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! U5 G& C/ Q! {. kThe pattern was identical in the condominium market, where more supply and fewer sales also resulted in more affordable prices.2 @3 k. g. h# c
" ]5 Q) X/ x/ X2 v" cThe number of condos going up for sale in September increased 10.88% over August, while there was a 12.66% decrease in units sold.3 D R# I% V- O
( C7 v/ I* r: \8 ^2 C$ N, h% P& A3 y; YThe average house price in September was recorded at $470,888, down slightly from the August average price of $485,914. |
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