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http://calsun.canoe.ca/News/Alberta/2007/10/02/4542538-sun.html' X1 {$ |7 r+ E% ` E
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Tue, October 2, 2007
* z) t& u; H+ P' d4 dHouse prices drop $10K in Calgary
, X& j g4 c- \1 v' t. \+ v2 TUPDATED: 2007-10-02 01:41:36 MST7 e, x* V! [+ Q* H! }) L" h
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By PABLO FERNANDEZ, SUN MEDIA% {; ?. O g% X9 B% T
1 `2 f8 U3 ?8 X: m9 o# R3 [/ D$ E, 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.
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The median price of homes, the middle value of homes sold, fell to $420,500 last month, down from $430,000 in August, said the Calgary Real Estate Board in its monthly housing sales report., @! f! M7 h) I: X1 U
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Yet, despite the falling prices, CREB president Ron Stanners said city home prices are still higher now than they were last year at this time.
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0 J. e3 }% @$ X' G) `" A& b"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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2 N% [2 _" F: l3 ~+ u- o1 BThe pattern was identical in the condominium market, where more supply and fewer sales also resulted in more affordable prices.. l# P, P* t% b: H
$ q J" C9 w! [0 x( \4 g$ RThe 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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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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