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http://calsun.canoe.ca/News/Alberta/2007/10/02/4542538-sun.html% {" B: F5 n7 {8 i
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Tue, October 2, 2007
& n4 C4 R2 w# K4 R; gHouse prices drop $10K in Calgary
! A7 n! L9 R- I, M1 C0 WUPDATED: 2007-10-02 01:41:36 MST* z$ S X* x% H+ e- _; y5 ~
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By 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.. C; @" i% A( t! N" a. M
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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.2 v, O7 j' |/ k: z9 c/ i
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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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"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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The pattern was identical in the condominium market, where more supply and fewer sales also resulted in more affordable prices.
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, z+ P5 f4 P: ]4 z4 tThe 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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1 K1 R% s& R( F; SThe average house price in September was recorded at $470,888, down slightly from the August average price of $485,914. |
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