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http://calsun.canoe.ca/News/Alberta/2007/10/02/4542538-sun.html* _! E( O i8 M; F$ ~, J
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Tue, October 2, 2007
8 h0 a1 x+ n2 e+ S% oHouse prices drop $10K in Calgary
* e. L5 O; G7 v, v$ j5 e' f, gUPDATED: 2007-10-02 01:41:36 MST Q1 v1 [+ [; I9 [
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, f |' v1 V4 O: E$ d pBy PABLO FERNANDEZ, SUN MEDIA
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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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5 t ?2 B( g. ^) sThe median price of homes, the middle value of homes sold, fell to $420,500 last month, down from $430,000 in August, said the Calgary Real Estate Board in its monthly housing sales report.
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Yet, despite the falling prices, CREB president Ron Stanners said city home prices are still higher now than they were last year at this time.
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8 R* B/ V# E, x) P& W( j"The market place is very good right now, but it has slowed down over the last three or four months," said Stanners. "It's beginning to move more towards a buyers' market but even still, sellers are still getting much more today than they were this time last year."
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s0 ?7 K4 P. NIn fact, the median price of single-family homes in Calgary remained 9.68% higher in September than the same month last year. The number of single-family homes on the market jumped 5.15%, but sales slipped 19.03% in September from August, CREB figures say.
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, j( b' @4 Y/ {/ bThe pattern was identical in the condominium market, where more supply and fewer sales also resulted in more affordable prices.5 U L& v$ g. E* y# c! F' y6 t
% N! F5 |. A: o% HThe number of condos going up for sale in September increased 10.88% over August, while there was a 12.66% decrease in units sold.4 D! [ ~& \) p# X- P$ G! ~
+ l G7 a( c+ V) |+ V- 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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