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http://calsun.canoe.ca/News/Alberta/2007/10/02/4542538-sun.html2 ~* S0 t0 a% W/ O7 k; d
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Tue, October 2, 2007& n6 z \5 w" b% ~0 a, X
House prices drop $10K in Calgary
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( V u+ {4 h* e) L/ M) cBy 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 $430,000 in August, said the Calgary Real Estate Board in its monthly housing sales report.
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8 @8 `$ o4 \9 G0 F2 j. zYet, 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."8 p& _9 I; ^, a4 S h
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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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8 Y; W8 |5 j- k Z* V/ a& S2 wThe pattern was identical in the condominium market, where more supply and fewer sales also resulted in more affordable prices.+ g& m0 E) g; S# _4 ~
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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.
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" y* Y) c, r% p! A: _0 {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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