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http://calsun.canoe.ca/News/Alberta/2007/10/02/4542538-sun.html7 F/ P+ k. g6 I( f, |9 a+ y
) p: ^* ~( @! z4 q* e8 E: ?Tue, October 2, 2007
: l$ L# l" O, I% o7 l& S! Z* PHouse prices drop $10K in Calgary. y3 v# D3 X) L' F
UPDATED: 2007-10-02 01:41:36 MST- m% Z3 U' D1 ]4 _% O3 y. }
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- Q5 g& |6 i6 tBy 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.! l7 q4 W' D# r! M, E
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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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- U* H0 Q. `6 \2 t; \( V5 A, w8 j) SYet, despite the falling prices, CREB president Ron Stanners said city home prices are still higher now than they were last year at this time./ x; S* h+ A- B! C) I
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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."4 Y% |0 e! o, b5 j- L( g" B
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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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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./ D. V( z1 R" M
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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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