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http://calsun.canoe.ca/News/Alberta/2007/10/02/4542538-sun.html7 J* F& j; Q9 A, p
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Tue, October 2, 2007& E5 D1 n2 G' Y
House prices drop $10K in Calgary/ C, d# Z/ r0 m p& P
UPDATED: 2007-10-02 01:41:36 MST
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4 i4 J# Z, L. XBy PABLO FERNANDEZ, SUN MEDIA
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8 x. _ G$ N" k- c5 D `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.3 L4 B) G9 Y' c, m% ~0 N0 {
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The median price of homes, the middle value of homes sold, fell to $420,500 last month, down from $430,000 in August, said the Calgary Real Estate Board in its monthly housing sales report.# s- F: x, Q' B, l; C6 P6 X
# ?7 Q8 y9 T; `; B+ M6 k6 TYet, despite the falling prices, CREB president Ron Stanners said city home prices are still higher now than they were last year at this time.' u4 P4 E6 V& M4 c. B
9 A, E6 w0 h# g8 j* s$ _"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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! Y5 D" g, [/ M4 x. Y1 MIn 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.; s5 H4 U& `1 m( L3 P u
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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.0 s0 z! W. }# T: v* @/ V9 D
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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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