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http://calsun.canoe.ca/News/Alberta/2007/10/02/4542538-sun.html
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Tue, October 2, 2007
# ]* m& Q2 T$ j7 LHouse prices drop $10K in Calgary. M( d3 @2 C* {; u
UPDATED: 2007-10-02 01:41:36 MST
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By PABLO FERNANDEZ, SUN MEDIA9 o) w& ?2 `# p& J# `5 @
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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.7 X8 a# J7 r) }3 G
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The median price of homes, the middle value of homes sold, fell to $420,500 last month, down from $430,000 in August, said the Calgary Real Estate Board in its monthly housing sales report.
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1 l4 Q" c( g1 u) z6 HYet, despite the falling prices, CREB president Ron Stanners said city home prices are still higher now than they were last year at this time.
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" b& }3 c4 y6 ^( |( l% @"The market place is very good right now, but it has slowed down over the last three or four months," said Stanners. "It's beginning to move more towards a buyers' market but even still, sellers are still getting much more today than they were this time last year."
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' T1 O1 V" E, E. V' HIn fact, the median price of single-family homes in Calgary remained 9.68% higher in September than the same month last year. The number of single-family homes on the market jumped 5.15%, but sales slipped 19.03% in September from August, CREB figures say.0 J8 h1 H2 V7 b* m
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The pattern was identical in the condominium market, where more supply and fewer sales also resulted in more affordable prices.
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The number of condos going up for sale in September increased 10.88% over August, while there was a 12.66% decrease in units sold.$ U& ]2 }$ R/ @* ^% f) t4 }7 E2 k
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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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