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http://calsun.canoe.ca/News/Alberta/2007/10/02/4542538-sun.html9 `$ a# G, r! A% a* t& D- i" q
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Tue, October 2, 2007
/ O! p, T' D6 f3 w- i+ J1 L9 vHouse prices drop $10K in Calgary
, u! X+ S3 N! RUPDATED: 2007-10-02 01:41:36 MST7 B# d1 Y/ j. t" f, f7 H+ A" q) U5 O
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By PABLO FERNANDEZ, SUN MEDIA
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X; p) G" ?/ OCalgary house prices sank $10,000 last month, the fourth decline in a row as inventory jumped and sales slumped, according to statistics released yesterday.- x; v* k0 h2 x9 e$ J; n
& t$ K$ w( [$ t+ qThe median price of homes, the middle value of homes sold, fell to $420,500 last month, down from $430,000 in August, said the Calgary Real Estate Board in its monthly housing sales report.) f4 P' c& }' _
4 ~8 a4 Z: Y7 N2 \8 L d2 F0 GYet, despite the falling prices, CREB president Ron Stanners said city home prices are still higher now than they were last year at this time.$ V/ t1 ?# s; o) G
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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.* u+ P8 T2 T* C
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The pattern was identical in the condominium market, where more supply and fewer sales also resulted in more affordable prices.& {( A1 i/ g7 v: V
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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.
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% N! ^ e1 g! lThe average house price in September was recorded at $470,888, down slightly from the August average price of $485,914. |
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