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http://calsun.canoe.ca/News/Alberta/2007/10/02/4542538-sun.html7 L. X) D5 T6 Z
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Tue, October 2, 2007
. w7 E7 U# F& h: F, ]8 DHouse prices drop $10K in Calgary
' g* y- L& `; Y! V6 }UPDATED: 2007-10-02 01:41:36 MST
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, T! ] c% y1 i& ^: w2 XBy PABLO FERNANDEZ, SUN MEDIA8 ~1 k1 r7 A7 r5 ^$ I3 Y
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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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The median price of homes, the middle value of homes sold, fell to $420,500 last month, down from $430,000 in August, said the Calgary Real Estate Board in its monthly housing sales report.
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g7 ^+ h4 O- b- c& eYet, despite the falling prices, CREB president Ron Stanners said city home prices are still higher now than they were last year at this time.
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/ i1 D$ T7 R; R! |, V+ J4 i1 @"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."/ p7 _ r4 H! e% g3 n" |
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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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9 Q2 M! r. w. ^$ ]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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