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http://calsun.canoe.ca/News/Alberta/2007/10/02/4542538-sun.html2 S# p) _. e* ^+ e
, X7 `" y+ M' dTue, October 2, 2007
% M9 _" V6 P" z. @1 J5 CHouse prices drop $10K in Calgary
% Q. Q; m( W9 }& n9 @; ^& k+ Z( GUPDATED: 2007-10-02 01:41:36 MST
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5 O$ x% }- V, Z8 v! ~7 h% S& W% tBy PABLO FERNANDEZ, SUN MEDIA
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" s0 t( M& s @* f6 O9 B* w) r# dCalgary 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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The median price of homes, the middle value of homes sold, fell to $420,500 last month, down from $430,000 in August, said the Calgary Real Estate Board in its monthly housing sales report.
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8 ?% t: X2 \1 n$ ?# z# AYet, 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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1 ^! _9 D2 O, R0 d# S+ X"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. f! p+ M' w' v! M7 a2 x
3 K2 n7 n' z7 G. F& s- s2 M5 LThe pattern was identical in the condominium market, where more supply and fewer sales also resulted in more affordable prices.
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8 R5 b) c& \0 E1 M2 cThe number of condos going up for sale in September increased 10.88% over August, while there was a 12.66% decrease in units sold.
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8 p, I5 P2 P O1 @$ q! bThe average house price in September was recorded at $470,888, down slightly from the August average price of $485,914. |
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