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http://calsun.canoe.ca/News/Alberta/2007/10/02/4542538-sun.html" {: C0 A# b( o( o/ N
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Tue, October 2, 2007
5 M/ E, k; ^: l) P8 {! @ L) }House prices drop $10K in Calgary
3 i7 Y( |! A! ^2 d: b9 F, e# B* [4 WUPDATED: 2007-10-02 01:41:36 MST8 L- a3 A# A, Q* F# {
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U# h4 \/ t, l+ O( d; [3 oBy PABLO FERNANDEZ, SUN MEDIA8 ]. }8 s! k7 E4 M" C9 c
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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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; G1 C! `6 ~: g3 X" L& HThe median price of homes, the middle value of homes sold, fell to $420,500 last month, down from $430,000 in August, said the Calgary Real Estate Board in its monthly housing sales report./ q; R$ n2 n& z4 K
) f6 @5 ^( \. X/ R& FYet, 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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/ b8 q; S$ c& _1 `* H/ ~1 w! o"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.2 A- N$ u$ s: R
8 o n- w* l! d2 ^" L1 B. g1 MThe pattern was identical in the condominium market, where more supply and fewer sales also resulted in more affordable prices.; a6 g* R2 g; ]% ?# e% Q
9 v8 E; I' d: r. 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.% f1 I% G1 l! P, w
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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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