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http://calsun.canoe.ca/News/Alberta/2007/10/02/4542538-sun.html
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, H2 n5 c0 @+ j4 q& a1 ZTue, October 2, 2007* j4 q# B( A# W' R) G
House prices drop $10K in Calgary
. Z' {% v% V8 F% IUPDATED: 2007-10-02 01:41:36 MST
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By PABLO FERNANDEZ, SUN MEDIA
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( W! V! b2 W+ HCalgary house prices sank $10,000 last month, the fourth decline in a row as inventory jumped and sales slumped, according to statistics released yesterday. u; f. `3 x6 M4 s. ]0 H1 f
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The median price of homes, the middle value of homes sold, fell to $420,500 last month, down from $430,000 in August, said the Calgary Real Estate Board in its monthly housing sales report.
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Yet, despite the falling prices, CREB president Ron Stanners said city home prices are still higher now than they were last year at this time.
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1 S- ~/ m C u$ n/ {. D"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.
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: C" u! `' o, O5 M- O1 Z4 bThe pattern was identical in the condominium market, where more supply and fewer sales also resulted in more affordable prices.8 B/ Y0 K( z5 _4 _! T+ R
: ~" B+ {" I1 c! \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.( I: i5 S' Q4 t4 Q9 z
; e! ?8 b+ y4 ]' U% `1 hThe average house price in September was recorded at $470,888, down slightly from the August average price of $485,914. |
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