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http://calsun.canoe.ca/News/Alberta/2007/10/02/4542538-sun.html+ o; d+ `$ C# c) C: V2 D0 q3 X) |
, _& j! E7 t3 l6 f2 Z; @Tue, October 2, 2007
3 n6 y+ r ~+ j( C% HHouse prices drop $10K in Calgary
& E9 O) [, F/ M0 n8 M* nUPDATED: 2007-10-02 01:41:36 MST: B/ }7 l% ~* N* m' J% d
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# P7 _, h& [* c0 a9 R' eBy PABLO FERNANDEZ, SUN MEDIA5 f! u0 n1 i2 j" B
: l5 j. q6 P: s. I8 X* GCalgary 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 $430,000 in August, said the Calgary Real Estate Board in its monthly housing sales report." B, {- m6 ]$ i* b
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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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' t) g: Z* t, L3 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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8 j$ H$ i9 C; ^9 }/ wIn 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.( a) _7 m- ]9 K7 r8 z9 z4 j
9 u* l( R5 m/ H, ~ F) tThe pattern was identical in the condominium market, where more supply and fewer sales also resulted in more affordable prices.
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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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5 W1 z5 ~8 D( W- KThe average house price in September was recorded at $470,888, down slightly from the August average price of $485,914. |
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