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http://calsun.canoe.ca/News/Alberta/2007/10/02/4542538-sun.html e* @7 j& n7 p
) x' i1 O, ]& g9 TTue, October 2, 2007
: }. }- A, ` Z7 bHouse prices drop $10K in Calgary. T5 } }& X _9 |8 {& z9 F1 N% ]
UPDATED: 2007-10-02 01:41:36 MST
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" @# h* c* M$ M2 s SBy PABLO FERNANDEZ, SUN MEDIA# ]+ Y7 a! O. ?7 Z) e# r ~" J5 K
: z4 R8 Q5 A/ zCalgary house prices sank $10,000 last month, the fourth decline in a row as inventory jumped and sales slumped, according to statistics released yesterday.) g3 c& N* @6 T5 x# l. J- o5 N
& x, R' s; Z! e4 ^& ^The median price of homes, the middle value of homes sold, fell to $420,500 last month, down from $430,000 in August, said the Calgary Real Estate Board in its monthly housing sales report.1 p, Q5 Q- Z5 _9 N
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Yet, despite the falling prices, CREB president Ron Stanners said city home prices are still higher now than they were last year at this time.
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"The market place is very good right now, but it has slowed down over the last three or four months," said Stanners. "It's beginning to move more towards a buyers' market but even still, sellers are still getting much more today than they were this time last year."4 n$ T+ b" S: c* ?+ K2 J6 c( f
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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.9 P2 l0 E/ q2 ?
( N6 X8 Q" j/ z- y4 w+ y- sThe 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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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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