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http://calsun.canoe.ca/News/Alberta/2007/10/02/4542538-sun.html
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Tue, October 2, 2007
) U' \2 n1 k! K2 o# H( @2 K: L: sHouse prices drop $10K in Calgary2 I8 k o @ [
UPDATED: 2007-10-02 01:41:36 MST
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3 B2 t7 u, z3 J5 `' E' s: _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.
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o P/ S8 E' eThe median price of homes, the middle value of homes sold, fell to $420,500 last month, down from $430,000 in August, said the Calgary Real Estate Board in its monthly housing sales report.5 v1 j# d9 ^9 Y. V
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Yet, despite the falling prices, CREB president Ron Stanners said city home prices are still higher now than they were last year at this time.
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. }7 w+ L# ^6 W9 U"The market place is very good right now, but it has slowed down over the last three or four months," said Stanners. "It's beginning to move more towards a buyers' market but even still, sellers are still getting much more today than they were this time last year."
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In fact, the median price of single-family homes in Calgary remained 9.68% higher in September than the same month last year. The number of single-family homes on the market jumped 5.15%, but sales slipped 19.03% in September from August, CREB figures say., f0 s! S5 N. P* y
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The pattern was identical in the condominium market, where more supply and fewer sales also resulted in more affordable prices.
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8 K2 g$ {- F# b9 V5 R" N% ]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.
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0 o1 h6 b2 D0 C2 ]7 |$ W4 ZThe average house price in September was recorded at $470,888, down slightly from the August average price of $485,914. |
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