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http://calsun.canoe.ca/News/Alberta/2007/10/02/4542538-sun.html5 |7 i9 W( ~3 P4 T: B6 ]8 i) q( F
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Tue, October 2, 20070 L8 g) v1 P+ r. T3 I, w. T
House prices drop $10K in Calgary7 h. `# ]+ ?& l+ v5 V0 _1 `! w
UPDATED: 2007-10-02 01:41:36 MST
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7 b5 i0 P( g8 v7 o* e; NBy PABLO FERNANDEZ, SUN MEDIA7 U) K0 q3 E/ E' i
( O" J- Z# f% V* E- \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.
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The median price of homes, the middle value of homes sold, fell to $420,500 last month, down from $430,000 in August, said the Calgary Real Estate Board in its monthly housing sales report.
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! x* J8 S# Q3 w( f1 VYet, despite the falling prices, CREB president Ron Stanners said city home prices are still higher now than they were last year at this time.# j. U2 V J/ h( n* X) n
3 ^* X. i$ U% f; y' ~+ a5 M. K4 V"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." v# Y- u9 Z5 M0 e8 C$ ^
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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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# `1 S+ A. J: G' p1 s) nThe 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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