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http://calsun.canoe.ca/News/Alberta/2007/10/02/4542538-sun.html" m* N+ ?1 i: Z }
: X% H6 q; x4 S; ^Tue, October 2, 2007
2 Q) |( u v, Z F {% t yHouse prices drop $10K in Calgary
8 P/ O1 X7 } TUPDATED: 2007-10-02 01:41:36 MST% ^6 I/ U. {7 X9 x5 h. X* Q0 y
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By PABLO FERNANDEZ, SUN MEDIA
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. {5 C) E& L: T6 g# B$ KCalgary 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 s) [& s; f* v
; K4 e& v% _4 V0 @8 X2 S% EThe median price of homes, the middle value of homes sold, fell to $420,500 last month, down from $430,000 in August, said the Calgary Real Estate Board in its monthly housing sales report.6 e; b4 w3 B, |! r* `
2 p1 j3 a- g& P n# Z# `Yet, despite the falling prices, CREB president Ron Stanners said city home prices are still higher now than they were last year at this time., N/ ^) t4 {+ Z
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"The market place is very good right now, but it has slowed down over the last three or four months," said Stanners. "It's beginning to move more towards a buyers' market but even still, sellers are still getting much more today than they were this time last year."' m6 W5 }4 O! v. l& ]& V9 A7 Q* ^
+ G6 n9 }. K! R" u* S* P% UIn fact, the median price of single-family homes in Calgary remained 9.68% higher in September than the same month last year. The number of single-family homes on the market jumped 5.15%, but sales slipped 19.03% in September from August, CREB figures say.2 Y% q. Z; I& ]
" b% }; D$ o* g/ YThe pattern was identical in the condominium market, where more supply and fewer sales also resulted in more affordable prices.+ t a( j7 f4 e+ G
. g* A) H) _9 Z' _- U/ X) zThe number of condos going up for sale in September increased 10.88% over August, while there was a 12.66% decrease in units sold.' |/ x+ q2 M( X% p7 i9 }3 S
3 A r: h# Y% P9 A- k5 PThe average house price in September was recorded at $470,888, down slightly from the August average price of $485,914. |
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