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http://calsun.canoe.ca/News/Alberta/2007/10/02/4542538-sun.html: u6 G* R; c* `' [6 ?0 u
9 o9 O6 }2 |1 N1 X7 C' H! w' LTue, October 2, 2007
5 G4 B4 V8 j" b+ JHouse prices drop $10K in Calgary& c6 C4 Q. S X5 ]4 K
UPDATED: 2007-10-02 01:41:36 MST
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, g+ G0 t+ K! q7 \9 C% [3 VBy PABLO FERNANDEZ, SUN MEDIA$ Y4 H. [9 S; ]
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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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5 W; F Y( ~* q# `: NThe 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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, }5 g X% w' ~) 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.5 I' s6 N6 x: t- L& b3 C0 Q
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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."+ n+ U+ W) ]/ S+ @4 M- r/ X* p
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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.. ?& W& ?2 f0 i( M
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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.& ^( A& s- y2 ]* w+ _% n
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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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