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http://calsun.canoe.ca/News/Alberta/2007/10/02/4542538-sun.html0 a" ~: L% a5 ~8 ?% }
3 c4 X0 r; N8 t3 S$ ZTue, October 2, 2007
' o; F6 `# W- ?6 @0 @" qHouse prices drop $10K in Calgary
+ B% j& Q+ P) VUPDATED: 2007-10-02 01:41:36 MST& F; @& a8 u3 o, f9 W& `
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( g H3 y& N- J2 D' X$ lBy 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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7 ~! U7 a6 x8 T) Y' l# vYet, despite the falling prices, CREB president Ron Stanners said city home prices are still higher now than they were last year at this time.0 A( w, b, Z8 l- p( P
E3 ?4 ]! N4 B4 ?# C% r: t"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."4 `* y" U j2 h: \- \( I7 x
* S! g7 b# L& Z' fIn 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.7 O$ d& m, K4 d# P
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The pattern was identical in the condominium market, where more supply and fewer sales also resulted in more affordable prices." W4 C1 f2 c+ c. I* P* b) P
/ I2 w* y0 S* U" ^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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. }. |, i! [7 j, e) `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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