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http://calsun.canoe.ca/News/Alberta/2007/10/02/4542538-sun.html7 X9 K/ p* J. b3 `6 G! K1 H
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O( {7 t8 `+ S# S9 n! E% p7 w, lHouse prices drop $10K in Calgary4 K" n' f$ u4 N5 X; ?9 s9 c$ O
UPDATED: 2007-10-02 01:41:36 MST
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# P; R4 N$ s% J' V6 ^By PABLO FERNANDEZ, SUN MEDIA z7 z6 S4 i- `& y# K
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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.
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. d- ^( [( L' Z* F7 eThe median price of homes, the middle value of homes sold, fell to $420,500 last month, down from $430,000 in August, said the Calgary Real Estate Board in its monthly housing sales report.
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Yet, despite the falling prices, CREB president Ron Stanners said city home prices are still higher now than they were last year at this time. s$ M- p" r, K. m' N' e
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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.": M; A' d1 g7 o6 K" @2 m
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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.6 P2 c( y4 m4 x2 D5 Q
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The pattern was identical in the condominium market, where more supply and fewer sales also resulted in more affordable prices." m- j E- g; P" U7 s$ u
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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.
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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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