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http://calsun.canoe.ca/News/Alberta/2007/10/02/4542538-sun.html 
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4 a6 Y. \( H# Q0 V$ WTue, October 2, 2007' s; N4 g6 b- N+ f 
House prices drop $10K in Calgary+ Z9 Q) m0 a* h! M& u/ q6 a 
UPDATED: 2007-10-02 01:41:36 MST' c0 r; H6 K  I- n) u% E  j' w" U 
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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.8 n/ s, c9 }' U7 ~9 I 
 
- ]0 h, `, W1 |. ^, w- QThe 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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"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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1 D; Q% [, B% D. R/ I5 w& eIn 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.  B  r/ r; Z- e' h- ] 
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The pattern was identical in the condominium market, where more supply and fewer sales also resulted in more affordable prices.6 G6 j9 k4 x; m: v3 Y, A; g 
 
% T# G5 z: C! H  d$ X: q! YThe 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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