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http://calsun.canoe.ca/News/Alberta/2007/10/02/4542538-sun.html
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/ k8 i& [: g; w3 P0 c4 wTue, October 2, 2007
' W/ y/ M. g1 L9 V3 nHouse prices drop $10K in Calgary! e6 X5 D& \5 l5 _$ r
UPDATED: 2007-10-02 01:41:36 MST6 r# J2 e2 \- Y) H& F' e
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+ c& d0 l0 `8 p$ q8 BBy PABLO FERNANDEZ, SUN MEDIA8 z ~ i+ i% r9 K" m4 w; Y. T
0 }; y& r4 Z9 I1 ZCalgary house prices sank $10,000 last month, the fourth decline in a row as inventory jumped and sales slumped, according to statistics released yesterday.4 A4 D) ]) E# r3 }4 V/ ~7 W
% ` a7 r0 G& B9 e6 x' F7 R9 SThe 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.8 e l3 j* r ~. u
\9 _' j9 N% p- eYet, despite the falling prices, CREB president Ron Stanners said city home prices are still higher now than they were last year at this time./ K* x6 _2 L! _6 C x7 B; H
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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.
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4 m+ q" P: s( o# R( M- e1 Z- uThe pattern was identical in the condominium market, where more supply and fewer sales also resulted in more affordable prices.
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9 s; o" a% C' P. D% DThe 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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% y2 V y% Z2 I2 W0 HThe average house price in September was recorded at $470,888, down slightly from the August average price of $485,914. |
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