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http://calsun.canoe.ca/News/Alberta/2007/10/02/4542538-sun.html8 I6 }2 B4 s$ \6 F
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Tue, October 2, 2007
* o1 J5 i/ m7 p# LHouse prices drop $10K in Calgary
7 j: E: v% K& W7 b; BUPDATED: 2007-10-02 01:41:36 MST* w: f8 j) l. q3 ?
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By PABLO FERNANDEZ, SUN MEDIA$ z; U( t @( c! f. l* M
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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., M1 V7 G" ~3 E: B; ?
! l2 z+ K+ N' a4 J1 B- h9 AThe 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.; b' o1 V( `& M* N
: W- R% P* k/ \) X3 s9 z% sYet, despite the falling prices, CREB president Ron Stanners said city home prices are still higher now than they were last year at this time.: B8 y1 a1 v4 }. B8 Y0 I
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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."2 v& J7 U& s- u! \' S
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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.9 p7 x5 x. M# p$ ?
- X S$ S- l+ w& b4 i: L& pThe number of condos going up for sale in September increased 10.88% over August, while there was a 12.66% decrease in units sold.7 p; k) l4 p& `& }) N% I: Z8 t
8 v' A9 O9 j5 i! M3 B' @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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