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http://calsun.canoe.ca/News/Alberta/2007/10/02/4542538-sun.html
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e* r- z# W* S9 T+ [Tue, October 2, 20078 b9 S* j5 v. I S0 e
House prices drop $10K in Calgary- r0 D: S2 ]) ]
UPDATED: 2007-10-02 01:41:36 MST& p% N2 I. l, }" n% O- O, W
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By PABLO FERNANDEZ, SUN MEDIA
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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.; J+ u6 w4 y# j8 m8 J+ z1 F7 r
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The median price of homes, the middle value of homes sold, fell to $420,500 last month, down from $430,000 in August, said the Calgary Real Estate Board in its monthly housing sales report.; Q& @1 q( X( l' R: `- i$ l P0 t0 ~" j
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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." R4 t. K f2 e( N6 E
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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."* s+ j! S- q1 F+ p$ b( G6 E6 I) M
! {+ g* r x% q+ lIn 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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! R7 N0 m* G1 N" n) kThe pattern was identical in the condominium market, where more supply and fewer sales also resulted in more affordable prices.9 e: y. o: l6 Y
y( H* J% I" i+ F9 X aThe 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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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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