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http://calsun.canoe.ca/News/Alberta/2007/10/02/4542538-sun.html( s% O3 |$ i5 _
* _2 q, s- K1 U% sTue, October 2, 20079 z& U+ s$ q, P0 W- x. k
House prices drop $10K in Calgary4 b) o# |7 j# g, O1 a/ T; T2 Q
UPDATED: 2007-10-02 01:41:36 MST# P0 Q) m( A4 [" Z0 ^
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$ _0 R3 p" \, n9 u9 g2 rBy PABLO FERNANDEZ, SUN MEDIA% p @ |4 S+ ]8 M/ X
% E2 f2 O2 O- r* i+ dCalgary house prices sank $10,000 last month, the fourth decline in a row as inventory jumped and sales slumped, according to statistics released yesterday.9 n2 [( c( M- |4 J- j
! B4 P3 M. v# iThe 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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" F2 [* x! w& zYet, 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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9 V2 c# z8 v: x2 n4 z"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."4 R- z8 h# D4 X& |4 k! o* W f& N2 I
* U/ R( p5 u) [, r6 k VIn 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.1 ?. @& f7 c) z& K, z
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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.
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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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