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http://calsun.canoe.ca/News/Alberta/2007/10/02/4542538-sun.html
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8 b- d1 \' r- U. I! C* tTue, October 2, 2007& A, h: N. i# V# k2 h) u
House prices drop $10K in Calgary
2 O" T2 O. F4 L( |% |7 \/ A0 b6 BUPDATED: 2007-10-02 01:41:36 MST
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By PABLO FERNANDEZ, SUN MEDIA" G, t. W7 Z, T$ t; k+ F$ @. ~
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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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& Z" s5 I" e# P% y: ~) xThe median price of homes, the middle value of homes sold, fell to $420,500 last month, down from $430,000 in August, said the Calgary Real Estate Board in its monthly housing sales report.) P/ V0 M7 Y! D& w7 L
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Yet, despite the falling prices, CREB president Ron Stanners said city home prices are still higher now than they were last year at this time. o) G, a4 F7 Z6 R4 Y$ C
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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."' V) R8 } D& J7 D
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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.8 F4 h: I! ]' R z i0 u4 s
9 h# ~- ?( ^) I* E: iThe pattern was identical in the condominium market, where more supply and fewer sales also resulted in more affordable prices.& ~( d! y$ B% a; P$ i9 T# b
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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.
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) z* O" ]+ g: [2 z2 ]* H7 yThe average house price in September was recorded at $470,888, down slightly from the August average price of $485,914. |
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