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http://calsun.canoe.ca/News/Alberta/2007/10/02/4542538-sun.html
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( t# C6 {$ F; h9 ?: T4 y- A6 L, uTue, October 2, 2007
z) K) p1 h: y$ n/ O6 V) yHouse prices drop $10K in Calgary7 ]+ T( w# |* j8 p' [9 V
UPDATED: 2007-10-02 01:41:36 MST3 p: O' u( r" s
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" }5 \8 Z0 w- X8 j, ]By PABLO FERNANDEZ, SUN MEDIA
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$ |! m0 O' j7 @' |Calgary house prices sank $10,000 last month, the fourth decline in a row as inventory jumped and sales slumped, according to statistics released yesterday.7 H4 ~0 H$ u+ B% E
: ?7 T1 W' R Z8 P; m# ~$ WThe 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.) Y! \) Q2 A* z3 G
0 B7 _5 p6 a+ }0 q+ {1 {' T) @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.
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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./ A& }) E& L+ e `
. B& K+ ^* z$ x! x. v8 eThe pattern was identical in the condominium market, where more supply and fewer sales also resulted in more affordable prices.8 z) w: P% t9 w
$ a0 C9 u( u0 |& Q$ R. w+ r* g2 tThe number of condos going up for sale in September increased 10.88% over August, while there was a 12.66% decrease in units sold.! ]; X9 I! Y& u- U1 ^" p
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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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