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http://calsun.canoe.ca/News/Alberta/2007/10/02/4542538-sun.html! ]: B9 R0 c0 P# n
3 q" o) C1 S7 `7 j- RTue, October 2, 2007
$ y" X5 ~: \3 [2 zHouse prices drop $10K in Calgary, |2 |( r! D# Z* C& X0 C K
UPDATED: 2007-10-02 01:41:36 MST
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1 G* a% m5 P4 r) C" F, jBy 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.+ m/ O2 Q) s- a; [
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The median price of homes, the middle value of homes sold, fell to $420,500 last month, down from $430,000 in August, said the Calgary Real Estate Board in its monthly housing sales report.8 k6 ^" {" V/ V3 L6 A
# T% v# B% R3 c! a$ ~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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! a8 L$ o0 J$ p7 R"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."' y% j1 ~' v; ^5 M8 G; ~0 P
$ J6 X7 Q. Z) V+ ?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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u' s0 G& h( ` {) o# `7 ^# hThe pattern was identical in the condominium market, where more supply and fewer sales also resulted in more affordable prices.% R+ d+ h: I1 O
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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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# D! U5 r% a# s* G uThe average house price in September was recorded at $470,888, down slightly from the August average price of $485,914. |
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