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http://calsun.canoe.ca/News/Alberta/2007/10/02/4542538-sun.html' `. n4 a' U* v' V( L* y: Y
n5 m0 a& u4 L. v& b* fTue, October 2, 20074 ] y- r. I% @
House prices drop $10K in Calgary/ i, x: F5 s- s) }/ l: D/ V
UPDATED: 2007-10-02 01:41:36 MST
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By PABLO FERNANDEZ, SUN MEDIA* J6 ~3 o# `9 T
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Calgary house prices sank $10,000 last month, the fourth decline in a row as inventory jumped and sales slumped, according to statistics released yesterday.$ l0 L4 H3 @% @
/ V* T& X8 l% a7 V9 wThe median price of homes, the middle value of homes sold, fell to $420,500 last month, down from $430,000 in August, said the Calgary Real Estate Board in its monthly housing sales report.& N4 R, m0 H( j8 I" v& O6 Q" I
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Yet, despite the falling prices, CREB president Ron Stanners said city home prices are still higher now than they were last year at this time.$ c* j. m+ |0 q8 A# ^+ [
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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."+ h7 b- o9 u0 z* t
; e% l) a5 f6 Q* @, V- I# rIn 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.. R1 \, p3 R. c# O% B2 ^
' O0 ]0 Z+ @( iThe pattern was identical in the condominium market, where more supply and fewer sales also resulted in more affordable prices.( B8 M, z3 X' l5 Y! Y0 O" f6 ~
" q q ?9 B& i! c7 ?4 ~' QThe number of condos going up for sale in September increased 10.88% over August, while there was a 12.66% decrease in units sold.( k6 x2 Y% \5 p& n$ [8 y8 y: y
$ W$ I% c" G) y* r$ l% w7 r. aThe average house price in September was recorded at $470,888, down slightly from the August average price of $485,914. |
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