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http://calsun.canoe.ca/News/Alberta/2007/10/02/4542538-sun.html. m/ v; `% M2 r
4 ^, ?+ V9 W! }' f% I. cTue, October 2, 2007
5 b z \3 X$ U; ^- }: X7 lHouse prices drop $10K in Calgary6 G! n' h5 s* p" l% }
UPDATED: 2007-10-02 01:41:36 MST7 `# j, ~8 N, i2 H3 ]5 @
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% _1 H! Q9 W; I, u8 [: _By PABLO FERNANDEZ, SUN MEDIA8 b& I! h5 j5 H, T
, x- z# t) b* i YCalgary 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 $430,000 in August, said the Calgary Real Estate Board in its monthly housing sales report.
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Yet, despite the falling prices, CREB president Ron Stanners said city home prices are still higher now than they were last year at this time.% I9 y# _7 M3 s5 G2 g
! k) n L; I3 `! v! ]& N) f"The market place is very good right now, but it has slowed down over the last three or four months," said Stanners. "It's beginning to move more towards a buyers' market but even still, sellers are still getting much more today than they were this time last year.", S$ n, s& m# }0 P* Q
. [% \2 Z2 I2 u6 O1 c5 yIn 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.9 m* ~* Q* g" A t
, m8 b. [0 ~( _' g' ^! }The pattern was identical in the condominium market, where more supply and fewer sales also resulted in more affordable prices.- G/ E# b& ]/ K1 t! c
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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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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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