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http://calsun.canoe.ca/News/Alberta/2007/10/02/4542538-sun.html
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Tue, October 2, 2007
3 o c; g9 y. `$ Y; i) G9 ?- dHouse prices drop $10K in Calgary
0 Y; r7 \% C W: F) R; K' @3 NUPDATED: 2007-10-02 01:41:36 MST* `" `$ l! E9 y4 W6 b( Z+ F
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4 c; G; o g, p1 @By PABLO FERNANDEZ, SUN MEDIA5 v- c0 @& {! R& ~5 z4 B( q
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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 $430,000 in August, said the Calgary Real Estate Board in its monthly housing sales report.
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Yet, despite the falling prices, CREB president Ron Stanners said city home prices are still higher now than they were last year at this time.
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& c$ [ V6 P7 L"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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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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) R. h0 S; w ?3 s7 ?( @7 e" WThe pattern was identical in the condominium market, where more supply and fewer sales also resulted in more affordable prices.7 Q, |0 q' A9 Z% b. N7 W
) y/ n6 k* C4 H$ K6 QThe number of condos going up for sale in September increased 10.88% over August, while there was a 12.66% decrease in units sold.6 s! f+ ~% N" d# }( q3 @
+ z, C3 j$ b8 w3 QThe average house price in September was recorded at $470,888, down slightly from the August average price of $485,914. |
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