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http://calsun.canoe.ca/News/Alberta/2007/10/02/4542538-sun.html, S$ J( u' f& A. B, o5 L
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Tue, October 2, 2007$ q, }8 K) _; @7 |( b8 f8 Y2 d
House prices drop $10K in Calgary0 m5 p! ^3 S8 u; ` D, ?
UPDATED: 2007-10-02 01:41:36 MST) {( s+ T% L2 n. l' K3 d+ ~
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By PABLO FERNANDEZ, SUN MEDIA6 a" h1 b @6 g* |% Z3 O/ I) v
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Calgary house prices sank $10,000 last month, the fourth decline in a row as inventory jumped and sales slumped, according to statistics released yesterday.
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4 k! k1 ]$ j! U( p8 L) |/ ]+ F; MThe median price of homes, the middle value of homes sold, fell to $420,500 last month, down from $430,000 in August, said the Calgary Real Estate Board in its monthly housing sales report.; T$ O- c! t& m4 f
& u& ^) g0 t# {" ?% mYet, despite the falling prices, CREB president Ron Stanners said city home prices are still higher now than they were last year at this time.# A, X( j! m$ o! Q4 T3 n6 o( K
+ l% B" [4 ~; q7 D"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.0 l5 |' e- @: i& R+ X) V8 \" n
' H. C+ C! a* T4 E* 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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