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http://calsun.canoe.ca/News/Alberta/2007/10/02/4542538-sun.html
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: j% G; i/ B! C& P# yTue, October 2, 20079 X, ^1 p* {* ~* B4 Z
House prices drop $10K in Calgary
6 V9 Y7 m' K5 D0 I# EUPDATED: 2007-10-02 01:41:36 MST
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, s7 q) T6 N. @0 q) z0 o3 W9 g6 KBy PABLO FERNANDEZ, SUN MEDIA' Z4 \! D! p1 D0 B4 E& d) k# H1 ^
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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.) G- v& V% m6 K B! i1 j
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The median price of homes, the middle value of homes sold, fell to $420,500 last month, down from $430,000 in August, said the Calgary Real Estate Board in its monthly housing sales report.
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! o* j# y1 a6 p5 {. W7 MYet, despite the falling prices, CREB president Ron Stanners said city home prices are still higher now than they were last year at this time.
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' S: Z# l/ [: H) r8 L j( u"The market place is very good right now, but it has slowed down over the last three or four months," said Stanners. "It's beginning to move more towards a buyers' market but even still, sellers are still getting much more today than they were this time last year."
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$ ^$ r, G7 Q0 Q$ C" M1 I- 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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The pattern was identical in the condominium market, where more supply and fewer sales also resulted in more affordable prices.
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3 `1 o- z, _1 K4 b* vThe number of condos going up for sale in September increased 10.88% over August, while there was a 12.66% decrease in units sold.! K; I1 X2 t$ t y) h
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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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