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http://calsun.canoe.ca/News/Alberta/2007/10/02/4542538-sun.html
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Tue, October 2, 2007* x2 ~+ b# F( b
House prices drop $10K in Calgary ^, R" b% [( }) K6 Y5 s
UPDATED: 2007-10-02 01:41:36 MST: T# u6 Z8 b8 r( j
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3 ^9 b( T% k9 m0 lBy PABLO FERNANDEZ, SUN MEDIA2 J' [# v+ s3 _" I
, y% E- L% n/ q9 SCalgary house prices sank $10,000 last month, the fourth decline in a row as inventory jumped and sales slumped, according to statistics released yesterday.2 ?. o x# S2 s5 a9 Z
* ]9 C g: |' A" C2 E+ v; S) ]) eThe median price of homes, the middle value of homes sold, fell to $420,500 last month, down from $430,000 in August, said the Calgary Real Estate Board in its monthly housing sales report.2 }3 T9 l" X. Q3 F6 N
! w0 z @, w, {; x! C# M0 p$ JYet, 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. ^& C. @3 n7 I: v& D7 n6 |
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The pattern was identical in the condominium market, where more supply and fewer sales also resulted in more affordable prices.1 L9 w+ y/ E2 ?# A
( T5 C" ? ^ x p& [. v- LThe number of condos going up for sale in September increased 10.88% over August, while there was a 12.66% decrease in units sold.9 X" n/ P2 i. V+ X$ n
3 N/ q; k' H D7 @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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