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http://calsun.canoe.ca/News/Alberta/2007/10/02/4542538-sun.html
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Tue, October 2, 2007+ E) @, B3 @2 y+ ?- }" t% R5 a
House prices drop $10K in Calgary& H/ Q6 ~+ y( Z7 u( Q2 _
UPDATED: 2007-10-02 01:41:36 MST) D' R$ {% w. V/ b2 S; Q- d
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, F& L: N0 ~3 O. U1 o% pBy PABLO FERNANDEZ, SUN MEDIA
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* f, ?. J5 ^" BCalgary 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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: B& W) i5 z! G* n5 l7 O* Q; s" JThe median price of homes, the middle value of homes sold, fell to $420,500 last month, down from $430,000 in August, said the Calgary Real Estate Board in its monthly housing sales report.3 G1 v2 P* l5 t% F/ h
) Z% m! o' P: z/ X2 E U) QYet, despite the falling prices, CREB president Ron Stanners said city home prices are still higher now than they were last year at this time.
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) D+ \+ x! h* E% G$ K Q8 I, S% b$ 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."6 D* ^+ s0 s9 `
% d+ G' M3 L% L. f- I" Z, e* K, b/ uIn 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.: V. h5 i }; E' s, j3 c
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The pattern was identical in the condominium market, where more supply and fewer sales also resulted in more affordable prices.
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# }& r" A9 \# h* P. s4 TThe 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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