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http://calsun.canoe.ca/News/Alberta/2007/10/02/4542538-sun.html: }$ _7 n* d4 N! W& r& r6 J0 j
: K( Q+ G1 b) w- kTue, October 2, 2007
( x, i3 }, Q0 h& bHouse prices drop $10K in Calgary
5 C1 K: Q! O: ^: t4 rUPDATED: 2007-10-02 01:41:36 MST4 O2 k, P6 _3 V" J3 W# [
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$ K( a" [; ?! n2 d; ?8 X1 }By PABLO FERNANDEZ, SUN MEDIA
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" x: n1 _% t, a) n% ?& TCalgary 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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% }) v: K( D2 F j2 iThe 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.7 [/ h! x/ h5 q2 b
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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.") a! ^9 @% _( s N
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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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+ b# U1 B1 P" m& LThe 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.
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- \" ~& P+ S: nThe average house price in September was recorded at $470,888, down slightly from the August average price of $485,914. |
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