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http://calsun.canoe.ca/News/Alberta/2007/10/02/4542538-sun.html
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Tue, October 2, 2007
+ c$ b& w5 ?) B9 WHouse prices drop $10K in Calgary- I: }1 |8 I! \7 S8 ]
UPDATED: 2007-10-02 01:41:36 MST" x: ~" u; }% W# p6 B. B
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By PABLO FERNANDEZ, SUN MEDIA
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7 K" B( g4 T0 z4 Y- JCalgary house prices sank $10,000 last month, the fourth decline in a row as inventory jumped and sales slumped, according to statistics released yesterday.. g9 E( m# p! r0 ~) I& e' i% M
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The median price of homes, the middle value of homes sold, fell to $420,500 last month, down from $430,000 in August, said the Calgary Real Estate Board in its monthly housing sales report.7 M5 J+ }& y7 @, t! `
- M5 a h6 C9 T9 L7 p+ DYet, despite the falling prices, CREB president Ron Stanners said city home prices are still higher now than they were last year at this time.( a- a* C5 i& X( Z
7 f& Z1 r3 Q$ B! ^/ t6 Q" J"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.' p9 V0 N5 P) N+ r
* B6 w' G/ t6 A( A# @The pattern was identical in the condominium market, where more supply and fewer sales also resulted in more affordable prices.
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1 V2 u3 f9 ?" U4 W: ^/ a& {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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