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http://calsun.canoe.ca/News/Alberta/2007/10/02/4542538-sun.html z1 X$ C( X7 O2 `" n, W
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Tue, October 2, 2007
* T6 W) v7 N& e& Z+ ^House prices drop $10K in Calgary
9 D+ J% q- o1 C- wUPDATED: 2007-10-02 01:41:36 MST
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By 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.+ m4 N, D' g; l. t' N9 G
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The median price of homes, the middle value of homes sold, fell to $420,500 last month, down from $430,000 in August, said the Calgary Real Estate Board in its monthly housing sales report.
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Yet, despite the falling prices, CREB president Ron Stanners said city home prices are still higher now than they were last year at this time.
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2 Z7 x6 L; Z$ x6 w4 H2 k"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.", e- {( \$ m, _# h( [1 `# T
+ U( w$ S0 A, gIn 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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The pattern was identical in the condominium market, where more supply and fewer sales also resulted in more affordable prices.+ |$ K" ]5 i9 X' m
' P5 K! j) S7 b; [: 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.- y* @+ K3 s6 I% A) [5 S0 p
' f2 j3 K; v; ]3 yThe average house price in September was recorded at $470,888, down slightly from the August average price of $485,914. |
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