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http://calsun.canoe.ca/News/Alberta/2007/10/02/4542538-sun.html6 [& G) |( H; ?0 r3 l C$ M
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Tue, October 2, 2007: {9 h9 ^4 D. V& }$ { O
House prices drop $10K in Calgary
1 u( \& v) n0 QUPDATED: 2007-10-02 01:41:36 MST7 s& T5 Y8 u8 ^" N* P8 l# o
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, c) o5 u! @; M! ]3 J& a2 m0 OBy PABLO FERNANDEZ, SUN MEDIA
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Calgary house prices sank $10,000 last month, the fourth decline in a row as inventory jumped and sales slumped, according to statistics released yesterday.$ ^2 u( b4 s5 e. b4 y6 B
4 B8 y) x6 H& l# qThe median price of homes, the middle value of homes sold, fell to $420,500 last month, down from $430,000 in August, said the Calgary Real Estate Board in its monthly housing sales report.
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Yet, despite the falling prices, CREB president Ron Stanners said city home prices are still higher now than they were last year at this time.9 W* q6 a: u, O7 ~) D: U
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"The market place is very good right now, but it has slowed down over the last three or four months," said Stanners. "It's beginning to move more towards a buyers' market but even still, sellers are still getting much more today than they were this time last year."
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% p6 R2 X4 j, M3 v8 ?6 C: DIn fact, the median price of single-family homes in Calgary remained 9.68% higher in September than the same month last year. The number of single-family homes on the market jumped 5.15%, but sales slipped 19.03% in September from August, CREB figures say.$ N3 y, }$ a9 Q; [
/ j# [2 ~' A# p2 \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.. f' G" y. l* V. g5 y
- z2 \0 r; N0 F* vThe average house price in September was recorded at $470,888, down slightly from the August average price of $485,914. |
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