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http://calsun.canoe.ca/News/Alberta/2007/10/02/4542538-sun.html
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. m( ?, }* @( r4 uTue, October 2, 2007# Z3 @: y, q0 ^
House prices drop $10K in Calgary/ r, g! I2 U d4 g, V/ ^" N7 q" j; A
UPDATED: 2007-10-02 01:41:36 MST
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By PABLO FERNANDEZ, SUN MEDIA
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Calgary house prices sank $10,000 last month, the fourth decline in a row as inventory jumped and sales slumped, according to statistics released yesterday.
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2 v, T3 ^ [$ ~The median price of homes, the middle value of homes sold, fell to $420,500 last month, down from $430,000 in August, said the Calgary Real Estate Board in its monthly housing sales report.& R9 [ O; V3 ]9 J. X* g
- [' A1 k( a7 W3 i& YYet, despite the falling prices, CREB president Ron Stanners said city home prices are still higher now than they were last year at this time.. s/ q% ]. W( s7 A2 ^7 f
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"The market place is very good right now, but it has slowed down over the last three or four months," said Stanners. "It's beginning to move more towards a buyers' market but even still, sellers are still getting much more today than they were this time last year."; O4 J; Q0 t5 s- x$ d0 \8 j
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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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% ~+ T* @8 u+ ?5 d6 p* hThe pattern was identical in the condominium market, where more supply and fewer sales also resulted in more affordable prices.9 O6 Y8 D/ ^6 {" G# ^; E
, R _+ p- A dThe number of condos going up for sale in September increased 10.88% over August, while there was a 12.66% decrease in units sold.; ]2 S7 f0 W1 m( w# y
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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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