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http://calsun.canoe.ca/News/Alberta/2007/10/02/4542538-sun.html
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, n( h. i- o( U- \; Q UTue, October 2, 2007
v: F' i3 w8 ?2 U- T% v& yHouse prices drop $10K in Calgary- ^3 L) e* O8 M$ M0 |
UPDATED: 2007-10-02 01:41:36 MST
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, U( ^$ `% M. a0 r0 yBy PABLO FERNANDEZ, SUN MEDIA8 k2 |+ v _ t+ _/ Q
. T7 t( Z+ t6 g& }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 K0 P" R, |: V7 F8 S5 u
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The median price of homes, the middle value of homes sold, fell to $420,500 last month, down from $430,000 in August, said the Calgary Real Estate Board in its monthly housing sales report.
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/ j6 z% U; T) [( n' s+ G; ^* tYet, despite the falling prices, CREB president Ron Stanners said city home prices are still higher now than they were last year at this time.9 q( m, s) z1 |6 Y! g/ d& U
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"The market place is very good right now, but it has slowed down over the last three or four months," said Stanners. "It's beginning to move more towards a buyers' market but even still, sellers are still getting much more today than they were this time last year."' J P1 H' x1 e$ q# W) l
# c4 y4 ~2 K$ `5 ?8 K. I3 yIn 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.
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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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