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http://calsun.canoe.ca/News/Alberta/2007/10/02/4542538-sun.html
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' a! H5 f- A6 @- A6 dTue, October 2, 2007
5 R+ F! `8 s$ ~House prices drop $10K in Calgary, F) [" Z: `& P4 p5 {% H# |* O
UPDATED: 2007-10-02 01:41:36 MST
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By PABLO FERNANDEZ, SUN MEDIA1 z/ `7 j( u9 z% j \+ Z
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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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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.% g: B! w7 d( O: H2 C% Y3 D5 W1 S
4 J, o* M j0 E; s: m; JYet, 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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% w: N% A& `2 T4 I) ?! x0 y"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."* z, Z6 w% L9 e5 L* k
( I2 D9 n+ S( V! T( {% j: EIn 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.3 |8 B) |: g/ _9 ~! W
]3 U3 B. G7 I% U/ ^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.( L4 ^2 k4 B7 h9 m
7 Y/ w0 ~) c/ A- {' C" N) ^! ]% sThe average house price in September was recorded at $470,888, down slightly from the August average price of $485,914. |
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