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http://calsun.canoe.ca/News/Alberta/2007/10/02/4542538-sun.html4 W* I1 i7 Z# }5 Y4 @3 _- x, v4 v1 K& z
; ?* r( j8 Z2 Y0 m4 v- g" ?Tue, October 2, 2007
/ ` ]$ s& Z6 y7 o3 V- `, C+ FHouse prices drop $10K in Calgary2 [0 k( j x: n: a9 U) j
UPDATED: 2007-10-02 01:41:36 MST
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By PABLO FERNANDEZ, SUN MEDIA( @7 z3 ?+ H' H* ?% C
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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./ E1 D% ~( a1 I( v" I k6 s+ ?
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The median price of homes, the middle value of homes sold, fell to $420,500 last month, down from $430,000 in August, said the Calgary Real Estate Board in its monthly housing sales report.
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! Z/ X2 `# c+ y' [( \9 m- C z" I0 \Yet, despite the falling prices, CREB president Ron Stanners said city home prices are still higher now than they were last year at this time.
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0 N7 ?9 Z. K% y! m+ w"The market place is very good right now, but it has slowed down over the last three or four months," said Stanners. "It's beginning to move more towards a buyers' market but even still, sellers are still getting much more today than they were this time last year."
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# c p6 V0 N' [4 [' Q5 c" fIn fact, the median price of single-family homes in Calgary remained 9.68% higher in September than the same month last year. The number of single-family homes on the market jumped 5.15%, but sales slipped 19.03% in September from August, CREB figures say.
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The pattern was identical in the condominium market, where more supply and fewer sales also resulted in more affordable prices.; E8 y' M1 T) a I$ T
F5 a$ E/ ^* W4 Y+ E* LThe 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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