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http://calsun.canoe.ca/News/Alberta/2007/10/02/4542538-sun.html5 [# M) n' |3 y( @
& x0 E- D a9 E9 ITue, October 2, 2007; z4 U9 i' j6 ^# R" ?8 |+ a
House prices drop $10K in Calgary
+ G3 a" A6 U- \$ j+ gUPDATED: 2007-10-02 01:41:36 MST
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/ b' \% c; g- X: D1 `By PABLO FERNANDEZ, SUN MEDIA/ Z, \( v5 \; f I( N8 f( L2 V8 F
" X8 [7 P; m/ L) Q9 `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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* G) w: r& o! ^The median price of homes, the middle value of homes sold, fell to $420,500 last month, down from $430,000 in August, said the Calgary Real Estate Board in its monthly housing sales report.
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* s- B! P' `% U: P* J! D. MYet, despite the falling prices, CREB president Ron Stanners said city home prices are still higher now than they were last year at this time.# l0 `* r1 H) Z# N. B4 `" X, d, a
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"The market place is very good right now, but it has slowed down over the last three or four months," said Stanners. "It's beginning to move more towards a buyers' market but even still, sellers are still getting much more today than they were this time last year."
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In fact, the median price of single-family homes in Calgary remained 9.68% higher in September than the same month last year. The number of single-family homes on the market jumped 5.15%, but sales slipped 19.03% in September from August, CREB figures say.+ }0 \+ P. q) S4 J9 p
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The pattern was identical in the condominium market, where more supply and fewer sales also resulted in more affordable prices.$ s; Y2 q8 S" n; Z2 V. z0 K
0 m) @9 x6 |# x6 YThe number of condos going up for sale in September increased 10.88% over August, while there was a 12.66% decrease in units sold.# `$ \5 [ f. E0 q! P- Z
4 f) O, |3 Z _2 U: [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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