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http://calsun.canoe.ca/News/Alberta/2007/10/02/4542538-sun.html' |: V, t+ r- d
" L2 r I7 n# j: ~% KTue, October 2, 2007( B% p1 Q4 D% H
House prices drop $10K in Calgary8 C0 s. b" q) S$ y7 U" M0 f4 `
UPDATED: 2007-10-02 01:41:36 MST
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By PABLO FERNANDEZ, SUN MEDIA
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3 d+ o9 @& u6 n0 z! b$ f+ jCalgary 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 $430,000 in August, said the Calgary Real Estate Board in its monthly housing sales report. M4 E" n) G1 D& y* h- `
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Yet, despite the falling prices, CREB president Ron Stanners said city home prices are still higher now than they were last year at this time.
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% W& f+ c6 j6 ^; R" ?! L8 m"The market place is very good right now, but it has slowed down over the last three or four months," said Stanners. "It's beginning to move more towards a buyers' market but even still, sellers are still getting much more today than they were this time last year."5 |3 J) N, z1 X2 N+ `2 c) Y. V* n
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In fact, the median price of single-family homes in Calgary remained 9.68% higher in September than the same month last year. The number of single-family homes on the market jumped 5.15%, but sales slipped 19.03% in September from August, CREB figures say.# B& p1 u# q: G; d& c8 Q/ x
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The pattern was identical in the condominium market, where more supply and fewer sales also resulted in more affordable prices.2 j& ?* Y# y0 X& c4 g' P% {& h
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The number of condos going up for sale in September increased 10.88% over August, while there was a 12.66% decrease in units sold.
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; V% | ~6 s+ j1 k$ V$ ^( hThe average house price in September was recorded at $470,888, down slightly from the August average price of $485,914. |
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