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http://calsun.canoe.ca/News/Alberta/2007/10/02/4542538-sun.html: e+ O. s- M! {! R$ O6 H
6 C) {' c" R) W% NTue, October 2, 2007
2 Z- P& @: }2 ]5 p3 EHouse prices drop $10K in Calgary
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By PABLO FERNANDEZ, SUN MEDIA- z3 Q6 W0 `& e: n# H0 y
; C. T4 @9 W \1 v1 G) Y M J! B6 LCalgary house prices sank $10,000 last month, the fourth decline in a row as inventory jumped and sales slumped, according to statistics released yesterday.# ?2 e' l5 Y7 r2 U
) w: V; v4 l" x" a9 pThe 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.# l: N, L* R5 P1 y7 x9 B: u4 ]) f
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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."+ v( v1 Q& g5 }6 H% i- c& N; Z
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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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The pattern was identical in the condominium market, where more supply and fewer sales also resulted in more affordable prices.* I* _& B F) x1 D
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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.% Z" f9 ]7 [, `
8 s: Q+ M 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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