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http://calsun.canoe.ca/News/Alberta/2007/10/02/4542538-sun.html3 g' i% H9 n) w+ _4 e
5 S5 u# i. e9 WTue, October 2, 2007
: W, b% h* N& I5 g& o3 cHouse prices drop $10K in Calgary
. d6 R7 i' ~$ b5 O6 c9 `UPDATED: 2007-10-02 01:41:36 MST
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By PABLO FERNANDEZ, SUN MEDIA
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: e8 {1 j6 b3 P) Y7 M3 A6 kCalgary 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 $430,000 in August, said the Calgary Real Estate Board in its monthly housing sales report.
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' z1 T. ]* y5 ^& ~! X3 yYet, despite the falling prices, CREB president Ron Stanners said city home prices are still higher now than they were last year at this time.
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/ u' `$ I* I5 d' J1 I8 U6 ["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."4 ~/ R `5 r2 `% a" T& A" K
1 P1 X9 ~. k1 e) kIn 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. ]' ^' R* e5 P0 Z
/ M& m/ K8 l( v8 WThe pattern was identical in the condominium market, where more supply and fewer sales also resulted in more affordable prices./ I& ? i. G- b4 l! 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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