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http://calsun.canoe.ca/News/Alberta/2007/10/02/4542538-sun.html
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Tue, October 2, 2007
4 }9 m' E6 O; V! s! U4 H" a) ]House prices drop $10K in Calgary
# f3 T$ l" e7 ]( x; [* O- I$ j2 mUPDATED: 2007-10-02 01:41:36 MST- v6 f: S0 i$ A2 M
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* |3 \- t6 I1 r& kBy PABLO FERNANDEZ, SUN MEDIA
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4 z& N/ O5 _, u! N- FCalgary 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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: B: I1 K; i0 H+ F1 aThe median price of homes, the middle value of homes sold, fell to $420,500 last month, down from $430,000 in August, said the Calgary Real Estate Board in its monthly housing sales report.
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& |+ [& V8 Z5 N* Y! V m5 DYet, despite the falling prices, CREB president Ron Stanners said city home prices are still higher now than they were last year at this time.
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"The market place is very good right now, but it has slowed down over the last three or four months," said Stanners. "It's beginning to move more towards a buyers' market but even still, sellers are still getting much more today than they were this time last year."
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In fact, the median price of single-family homes in Calgary remained 9.68% higher in September than the same month last year. The number of single-family homes on the market jumped 5.15%, but sales slipped 19.03% in September from August, CREB figures say.( c3 u9 y2 ~/ M$ ?# L8 d1 V2 \9 i
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The pattern was identical in the condominium market, where more supply and fewer sales also resulted in more affordable prices.0 ^8 k0 ], X3 B9 R b2 z
) k; U8 g5 N1 aThe number of condos going up for sale in September increased 10.88% over August, while there was a 12.66% decrease in units sold.9 g! b1 [0 o* S3 y0 K
5 m0 K1 J0 p9 j2 g5 `; sThe average house price in September was recorded at $470,888, down slightly from the August average price of $485,914. |
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