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http://calsun.canoe.ca/News/Alberta/2007/10/02/4542538-sun.html
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Tue, October 2, 20076 V9 h$ x) a+ ], p8 E3 ?! G" A" b
House prices drop $10K in Calgary
9 |6 ]8 V) D) f5 b+ i4 g( jUPDATED: 2007-10-02 01:41:36 MST* j5 Q/ t! ^7 a) D* ]
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By PABLO FERNANDEZ, SUN MEDIA) W3 d9 R( F8 u( Z% c, [0 Y
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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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The median price of homes, the middle value of homes sold, fell to $420,500 last month, down from $430,000 in August, said the Calgary Real Estate Board in its monthly housing sales report.' r$ r2 E2 f. t5 k/ p/ n
& \/ w0 r+ {: u- i# n$ a: jYet, despite the falling prices, CREB president Ron Stanners said city home prices are still higher now than they were last year at this time.: V l+ N( v# O; h8 k' S4 N# S
5 R$ @- M" L* V) Z- ?. `6 E"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."3 N3 Q! ]1 q8 `1 J" w
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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.3 B1 Q, c. t# v6 P5 Q
$ C+ n8 P$ m e: A: nThe pattern was identical in the condominium market, where more supply and fewer sales also resulted in more affordable prices.
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. j, }; i K* k0 J+ 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.
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: ^* F" X, d# sThe average house price in September was recorded at $470,888, down slightly from the August average price of $485,914. |
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