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http://calsun.canoe.ca/News/Alberta/2007/10/02/4542538-sun.html
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2 ?) T$ C M1 |$ i& p) x: lTue, October 2, 2007+ R: I2 E+ X( q4 o! O( o
House prices drop $10K in Calgary% U! ?% h" K3 ^8 O
UPDATED: 2007-10-02 01:41:36 MST0 e& ]# H7 F+ N3 B: G; F
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, E. [! |& i. u5 N6 hBy PABLO FERNANDEZ, SUN MEDIA6 B+ [. W3 _2 P* K0 G0 r0 U, s1 F5 @! H
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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.0 ^0 d( U7 J3 X7 F9 k) [* g
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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.* |; o& b# @% P
, E& _0 A) o C" y+ t"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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7 V2 E# L6 R( N% aIn 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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2 Y% n! G, W7 w0 EThe pattern was identical in the condominium market, where more supply and fewer sales also resulted in more affordable prices.6 e# `4 I1 f! Y- S" n
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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.6 c' t5 A3 f2 S2 {% g
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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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