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http://calsun.canoe.ca/News/Alberta/2007/10/02/4542538-sun.html% C6 T5 C% f I
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Tue, October 2, 2007
$ J( I4 U9 _6 `3 S2 q2 Y* YHouse prices drop $10K in Calgary' X2 y9 S) M9 T0 L A. J
UPDATED: 2007-10-02 01:41:36 MST
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# _' S3 E y2 w$ E# ?By PABLO FERNANDEZ, SUN MEDIA
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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.
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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." t9 s5 b* R1 `3 h
/ ?# D( D# C! i! @1 j4 [8 l: OYet, despite the falling prices, CREB president Ron Stanners said city home prices are still higher now than they were last year at this time.: q) T2 E3 e; F
8 D3 ~- d& V! L/ a' I; H"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.
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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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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." a2 G7 M3 V5 i. c6 l# Y
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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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