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http://calsun.canoe.ca/News/Alberta/2007/10/02/4542538-sun.html! l: p4 L- H% ]5 }- z
, E) G! I5 B. V4 S0 ETue, October 2, 2007
: I2 b. a* J8 q$ m DHouse prices drop $10K in Calgary, y q5 v5 |" L! B# y. l ?
UPDATED: 2007-10-02 01:41:36 MST) r- o) ?/ }& N( v
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By PABLO FERNANDEZ, SUN MEDIA ~, T l- _; F5 E
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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 $430,000 in August, said the Calgary Real Estate Board in its monthly housing sales report.( V# C- F }2 V4 @# D$ Q8 Q
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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.: t. W1 S/ u) o1 o. w; C4 G& }
; @1 j* B% R1 D% G. y$ w"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."3 t& h: ~) E+ N
" Q+ f' V2 n$ P- ?7 X7 c( dIn 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.5 ~9 u2 @ Q9 a% w
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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 y; B# t/ s' O# v: l" 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.! R% y. D, }7 r$ G8 l d* M1 G
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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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