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http://calsun.canoe.ca/News/Alberta/2007/10/02/4542538-sun.html" _9 G* E* ~; L, v) @1 D, w
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Tue, October 2, 2007
3 y- Z7 W7 d8 T& }3 J! IHouse prices drop $10K in Calgary; X! \4 K" c) Q' ~
UPDATED: 2007-10-02 01:41:36 MST
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5 n9 _1 ^ q5 h- a- _" o7 xBy PABLO FERNANDEZ, SUN MEDIA5 _1 c6 m; I: N0 K( }; F
; @5 Y1 [8 @& r3 i. z! d9 cCalgary house prices sank $10,000 last month, the fourth decline in a row as inventory jumped and sales slumped, according to statistics released yesterday.) T; E$ ]" I+ B8 `( \
7 _3 l( N- g! ?6 `! h0 S2 C7 MThe 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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/ m/ f8 U8 i8 V8 v" p# RYet, despite the falling prices, CREB president Ron Stanners said city home prices are still higher now than they were last year at this time.* S- U, S+ s: [7 J* X
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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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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.6 W- i9 ]5 e+ ]+ p! G( d! W
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The pattern was identical in the condominium market, where more supply and fewer sales also resulted in more affordable prices.; k6 N. z, J' V. T& v. }
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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.3 Y8 ]; s" b; R. T; K! x% D2 Z
2 c w0 c8 P3 SThe average house price in September was recorded at $470,888, down slightly from the August average price of $485,914. |
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