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http://calsun.canoe.ca/News/Alberta/2007/10/02/4542538-sun.html; l4 _; p9 G. Z2 x: C/ ]9 N
6 n" C) K/ e( B$ OTue, October 2, 2007
, E; K, o0 N& V' z% HHouse prices drop $10K in Calgary
6 T! K2 z% p1 sUPDATED: 2007-10-02 01:41:36 MST
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By PABLO FERNANDEZ, SUN MEDIA
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& S" i9 a4 z" H& \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.6 x) k" T7 h4 j0 i( c' a
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The median price of homes, the middle value of homes sold, fell to $420,500 last month, down from $430,000 in August, said the Calgary Real Estate Board in its monthly housing sales report.9 a0 Q" S6 B4 D k. R3 {
+ N* F0 r4 G, y$ m6 N! S4 z6 NYet, 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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"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."6 {2 F4 m; i* u
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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.7 h: p# q$ i- K# D$ t( ]
0 T t# S* ~- X5 Q# h2 JThe pattern was identical in the condominium market, where more supply and fewer sales also resulted in more affordable prices.7 {7 ~& d- F( y5 }$ w4 ]+ H
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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.8 M9 K* x: D" U
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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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