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http://calsun.canoe.ca/News/Alberta/2007/10/02/4542538-sun.html
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Tue, October 2, 20071 X' S5 ~+ K4 k- z2 K. d. A
House prices drop $10K in Calgary$ x. _. g# x1 i2 s
UPDATED: 2007-10-02 01:41:36 MST% n9 d! l& L1 g8 Z5 z
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1 |, t1 q) i. X" |By PABLO FERNANDEZ, SUN MEDIA# a! C8 m% C+ Z$ z0 O& D
, X* C8 q' \& v" g4 @& c5 e; }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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( _) |' |, Z' t0 q WThe median price of homes, the middle value of homes sold, fell to $420,500 last month, down from $430,000 in August, said the Calgary Real Estate Board in its monthly housing sales report. r0 E% w/ j) B o" T) D1 C$ S
. [* ?) \ l. h& z6 L; u, f2 c/ o! _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./ f; K6 [% u7 d
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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."; O7 U9 B) n0 {) @9 U
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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.3 k1 H7 Y3 S( D' d! y% Q
: A( o# {& T% wThe pattern was identical in the condominium market, where more supply and fewer sales also resulted in more affordable prices.5 q2 p$ {8 O% D! e! |* @( H# ]
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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.
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9 `. T+ v d+ `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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