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http://calsun.canoe.ca/News/Alberta/2007/10/02/4542538-sun.html" U% x& ]" w# }, c- p/ q: s
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Tue, October 2, 2007
$ }+ ^# G; J5 j7 _) d4 U+ g3 H+ F. GHouse prices drop $10K in Calgary; U& i7 S) M. j i/ x. U
UPDATED: 2007-10-02 01:41:36 MST
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. l0 b2 {3 ?# n/ xBy PABLO FERNANDEZ, SUN MEDIA
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2 C- Y% t( V$ ~. m+ T) F0 i6 \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.0 g. |+ t' v* ]8 e* G
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The median price of homes, the middle value of homes sold, fell to $420,500 last month, down from $430,000 in August, said the Calgary Real Estate Board in its monthly housing sales report.
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( s* S" X9 R& G: {' C" J+ BYet, despite the falling prices, CREB president Ron Stanners said city home prices are still higher now than they were last year at this time.+ O. T* I1 J: D4 T) N0 Q
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"The market place is very good right now, but it has slowed down over the last three or four months," said Stanners. "It's beginning to move more towards a buyers' market but even still, sellers are still getting much more today than they were this time last year."
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8 ?8 c$ u# Q) S4 J. ^3 {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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1 S, E/ s: y6 ]The pattern was identical in the condominium market, where more supply and fewer sales also resulted in more affordable prices.! r/ v; v3 t+ [9 }7 d; h+ [8 J
1 z6 h+ y( _1 D8 q, M7 lThe number of condos going up for sale in September increased 10.88% over August, while there was a 12.66% decrease in units sold.* N% ~$ I2 V" v4 p# F, K( l
v. ]# \2 C# F8 C9 V& ?/ ^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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