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http://calsun.canoe.ca/News/Alberta/2007/10/02/4542538-sun.html( {# n) v& Z) l* v' t1 r
. K$ G/ D) b7 Q% S; i6 ZTue, October 2, 20073 [% ?! M) l" [: F ^/ M& w
House prices drop $10K in Calgary
) S- u, E8 {: A' vUPDATED: 2007-10-02 01:41:36 MST& n' p" f) f# h' B6 @) d' Q6 L
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. M- Z, M/ b/ n- B4 d. LBy PABLO FERNANDEZ, SUN MEDIA5 V7 o+ g! [: I) G& |7 r" L
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Calgary house prices sank $10,000 last month, the fourth decline in a row as inventory jumped and sales slumped, according to statistics released yesterday.9 H8 R# V8 U) c) J( }$ O9 m
# b, m. {" h' s: E1 uThe median price of homes, the middle value of homes sold, fell to $420,500 last month, down from $430,000 in August, said the Calgary Real Estate Board in its monthly housing sales report.: o W3 B3 a& n5 w1 T
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Yet, despite the falling prices, CREB president Ron Stanners said city home prices are still higher now than they were last year at this time.
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"The market place is very good right now, but it has slowed down over the last three or four months," said Stanners. "It's beginning to move more towards a buyers' market but even still, sellers are still getting much more today than they were this time last year."
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In fact, the median price of single-family homes in Calgary remained 9.68% higher in September than the same month last year. The number of single-family homes on the market jumped 5.15%, but sales slipped 19.03% in September from August, CREB figures say.
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5 e$ {- F9 C8 p- `3 ^The 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.- F' \% y/ M+ L$ P1 Y3 Y$ u
( I+ c% V2 p5 B5 y/ f* A N' ]2 J0 EThe average house price in September was recorded at $470,888, down slightly from the August average price of $485,914. |
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