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http://calsun.canoe.ca/News/Alberta/2007/10/02/4542538-sun.html. a3 P/ E1 p3 {; G% L8 A/ I- \3 g
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Tue, October 2, 2007- h) l2 M) P, f j+ H
House prices drop $10K in Calgary& c6 v. F# j! t- v2 X. E9 K5 Y
UPDATED: 2007-10-02 01:41:36 MST* `0 u4 N! ]- d! t
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By PABLO FERNANDEZ, SUN MEDIA
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& t) A/ m! u' ^" x. J! |- iCalgary house prices sank $10,000 last month, the fourth decline in a row as inventory jumped and sales slumped, according to statistics released yesterday.$ Z3 ~1 y8 V8 _; C' i& U B# I
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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., H# c5 b. e2 f1 X+ q( Y
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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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% [# G: ?9 J; W/ L2 o. F" e"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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0 m: p9 z }' M3 k8 W4 JIn 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.4 N' b) h0 [5 |, Z
5 l1 q7 m- O5 h0 P) v BThe pattern was identical in the condominium market, where more supply and fewer sales also resulted in more affordable prices.
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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.- M4 M# K3 Y. X+ X
5 J8 c" O+ l& z, \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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