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http://calsun.canoe.ca/News/Alberta/2007/10/02/4542538-sun.html
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+ z$ ^, ^1 U5 w9 {6 X9 w0 tTue, October 2, 20073 s+ D3 ]6 Z. c! s" J/ b( b
House prices drop $10K in Calgary! C3 k4 N9 _1 z0 _2 _
UPDATED: 2007-10-02 01:41:36 MST
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By PABLO FERNANDEZ, SUN MEDIA
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& t. e, V w& q% d3 S 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.
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The median price of homes, the middle value of homes sold, fell to $420,500 last month, down from $430,000 in August, said the Calgary Real Estate Board in its monthly housing sales report.
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Yet, despite the falling prices, CREB president Ron Stanners said city home prices are still higher now than they were last year at this time.) W- Q8 y* X; s) t' J9 C* q1 O
! X/ C! j8 P) U"The market place is very good right now, but it has slowed down over the last three or four months," said Stanners. "It's beginning to move more towards a buyers' market but even still, sellers are still getting much more today than they were this time last year."
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In fact, the median price of single-family homes in Calgary remained 9.68% higher in September than the same month last year. The number of single-family homes on the market jumped 5.15%, but sales slipped 19.03% in September from August, CREB figures say.
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The pattern was identical in the condominium market, where more supply and fewer sales also resulted in more affordable prices.
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- C- X; z8 a( G Z( A7 vThe number of condos going up for sale in September increased 10.88% over August, while there was a 12.66% decrease in units sold.( |$ Y* B4 e: K9 t9 m8 m
! x1 k) |9 v# ?# I: M: KThe average house price in September was recorded at $470,888, down slightly from the August average price of $485,914. |
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