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http://calsun.canoe.ca/News/Alberta/2007/10/02/4542538-sun.html+ Z+ [0 P5 ^" d6 T( u# R; r
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Tue, October 2, 2007
- ^& F* j+ v* E+ C; rHouse prices drop $10K in Calgary
8 G2 P. A3 |; WUPDATED: 2007-10-02 01:41:36 MST
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: i& C0 g5 `2 dBy PABLO FERNANDEZ, SUN MEDIA9 L% j4 J! s J8 Z& X$ J, e. e
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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.5 v% y& c' O% U0 S s5 w
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The median price of homes, the middle value of homes sold, fell to $420,500 last month, down from $430,000 in August, said the Calgary Real Estate Board in its monthly housing sales report.5 W/ z8 |+ n2 g4 C {
8 d; Z: b! h8 Z: D1 o5 {7 [# A1 VYet, despite the falling prices, CREB president Ron Stanners said city home prices are still higher now than they were last year at this time.
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8 ~( I1 r$ |: t9 N5 _"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."; X, J" T" v M' h4 n- o
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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." S3 T0 ~' F0 \! E7 R9 T
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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.) d9 d) z* d' `0 `1 h7 f
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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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