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http://calsun.canoe.ca/News/Alberta/2007/10/02/4542538-sun.html
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) }$ ]& f8 a$ B) n3 ~& XTue, October 2, 20070 g# W( G! F' N/ U# t
House prices drop $10K in Calgary
/ N* c! e9 F& X# s% b/ `$ tUPDATED: 2007-10-02 01:41:36 MST
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By PABLO FERNANDEZ, SUN MEDIA
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6 u f+ \5 M3 p N# ~: G; TCalgary house prices sank $10,000 last month, the fourth decline in a row as inventory jumped and sales slumped, according to statistics released yesterday.* h$ {9 F% I+ ?: t( g7 G5 U$ n
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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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9 f3 l) N; q3 A/ W" O! ]" `" gYet, despite the falling prices, CREB president Ron Stanners said city home prices are still higher now than they were last year at this time.8 S+ N @! V+ G2 ~8 V) \
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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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8 @( |/ V8 V" T" I! i# HIn 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.! ?0 |; o8 O- q. p; S
: O9 r9 c5 b+ CThe 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.) I {- ~8 e) d/ F) Y
; v# i/ j) v! c4 r+ M4 z0 uThe average house price in September was recorded at $470,888, down slightly from the August average price of $485,914. |
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