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http://calsun.canoe.ca/News/Alberta/2007/10/02/4542538-sun.html$ c: c: }* T' R2 j# J
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Tue, October 2, 2007
3 L5 v- p- N" \( e! o; W( j3 |House prices drop $10K in Calgary
& x$ ^( x' \8 BUPDATED: 2007-10-02 01:41:36 MST
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" `* Z! i2 I4 Z5 WBy PABLO FERNANDEZ, SUN MEDIA4 K% @: H' C+ Z0 ]; j) L* c
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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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0 K7 s4 l, }. b, j' {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.7 g( a+ w3 C' F1 G7 r% U- Y V
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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.& t& l* J) H4 n
+ ~( h/ e2 |* m |# O7 D6 `"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.5 M, K( }! Q' I# S+ ]
1 O0 {( K2 \: O: H) B# b# OThe pattern was identical in the condominium market, where more supply and fewer sales also resulted in more affordable prices.
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* d1 _/ a. j( H5 D' `4 @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.1 E( t" ~7 y& m: w8 R- h
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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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