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http://calsun.canoe.ca/News/Alberta/2007/10/02/4542538-sun.html
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5 g) O# r. u1 K. LTue, October 2, 2007: Z4 B5 ~) j( `4 d' G, N& U: m' }
House prices drop $10K in Calgary) a1 t* r9 L- X) ? C* U6 F; [0 K, B! S0 h
UPDATED: 2007-10-02 01:41:36 MST
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' J8 }6 B" o* u1 ~By PABLO FERNANDEZ, SUN MEDIA! b, n7 U3 s- i9 u
" P" K8 k8 @0 i7 V* f) CCalgary house prices sank $10,000 last month, the fourth decline in a row as inventory jumped and sales slumped, according to statistics released yesterday.. M: ~3 g, D8 Q* r9 ?) \6 W
$ M% U+ N) j+ V; Y/ z) ]% bThe 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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- B6 G, i; |' J' u1 l"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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; l! }9 z/ N+ y5 f0 \8 s( {6 E' eIn 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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k8 n; w2 |, k+ s% c+ O# e& fThe pattern was identical in the condominium market, where more supply and fewer sales also resulted in more affordable prices.3 O# V. v8 M& e% K/ E+ D5 X6 K8 P9 c
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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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