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http://calsun.canoe.ca/News/Alberta/2007/10/02/4542538-sun.html
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Tue, October 2, 2007
* ?0 _. X% ~- _/ ~/ PHouse prices drop $10K in Calgary4 ?$ ~/ E$ X. u8 J, E& F
UPDATED: 2007-10-02 01:41:36 MST p, K5 S; A5 l* s# c0 n
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By PABLO FERNANDEZ, SUN MEDIA
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0 F( _* L2 X# d: o0 M JCalgary 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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The median price of homes, the middle value of homes sold, fell to $420,500 last month, down from $430,000 in August, said the Calgary Real Estate Board in its monthly housing sales report.# l9 G0 D4 i+ S0 Z7 m. k
2 K, D2 d' v5 W* w$ bYet, 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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& ]( L7 A( U3 M _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.
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9 }0 \/ x7 O; |+ W( w1 i' uThe pattern was identical in the condominium market, where more supply and fewer sales also resulted in more affordable prices.
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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.6 j: g5 [+ }% l& L0 v1 o
8 l2 ?) E U9 L2 ^- FThe average house price in September was recorded at $470,888, down slightly from the August average price of $485,914. |
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