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http://calsun.canoe.ca/News/Alberta/2007/10/02/4542538-sun.html+ X! D0 c$ g+ Y+ V! e% k7 s" U
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Tue, October 2, 2007
l/ V% l9 c5 x8 }! n5 aHouse prices drop $10K in Calgary
# q! E6 S: D# XUPDATED: 2007-10-02 01:41:36 MST
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+ |0 Y( e, x7 H* P: m, MBy PABLO FERNANDEZ, SUN MEDIA
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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.
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/ a% S2 {% a, i' [ rThe median price of homes, the middle value of homes sold, fell to $420,500 last month, down from $430,000 in August, said the Calgary Real Estate Board in its monthly housing sales report.
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- m' J- x0 R1 y# a: A/ h* DYet, despite the falling prices, CREB president Ron Stanners said city home prices are still higher now than they were last year at this time.( k' g: o- M6 Z7 L. y+ k$ Z
, ]9 i- m. K% K! q! D( _: n" U9 X"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.# z+ E8 s) t: F
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The pattern was identical in the condominium market, where more supply and fewer sales also resulted in more affordable prices./ _% P _% o q+ n Y$ b
' }, M1 B i. O* b. zThe 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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