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http://calsun.canoe.ca/News/Alberta/2007/10/02/4542538-sun.html# w% ~! _5 I1 i% g( A2 q* W
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Tue, October 2, 2007
. U' ~9 O. G) Q, e8 T$ s4 w9 ?House prices drop $10K in Calgary
- q, Q/ l( d: G; TUPDATED: 2007-10-02 01:41:36 MST
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; W; z3 Y. K: r8 w- tBy PABLO FERNANDEZ, SUN MEDIA/ i: @8 M$ |! j9 U5 ^
. m/ v: `, @( u3 P- [0 uCalgary 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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2 W8 f! C9 |# k0 ~/ XThe median price of homes, the middle value of homes sold, fell to $420,500 last month, down from $430,000 in August, said the Calgary Real Estate Board in its monthly housing sales report.5 p4 p2 v' K2 x6 A8 s
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Yet, despite the falling prices, CREB president Ron Stanners said city home prices are still higher now than they were last year at this time." W) \7 i! m# Y
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"The market place is very good right now, but it has slowed down over the last three or four months," said Stanners. "It's beginning to move more towards a buyers' market but even still, sellers are still getting much more today than they were this time last year."7 P! Z) c% W7 Q( X( l6 E" o3 P8 E: }. i
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In fact, the median price of single-family homes in Calgary remained 9.68% higher in September than the same month last year. The number of single-family homes on the market jumped 5.15%, but sales slipped 19.03% in September from August, CREB figures say.
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The pattern was identical in the condominium market, where more supply and fewer sales also resulted in more affordable prices.
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0 o" Y+ Z, L) X$ D$ B, Y& X7 F* {1 ] OThe number of condos going up for sale in September increased 10.88% over August, while there was a 12.66% decrease in units sold.( f8 Q( N1 B3 A/ y( h8 _
2 F# ^+ I+ q6 ^# qThe average house price in September was recorded at $470,888, down slightly from the August average price of $485,914. |
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