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http://calsun.canoe.ca/News/Alberta/2007/10/02/4542538-sun.html0 J Z2 X# r. e5 ~$ {5 b( ~' P
" k5 W" i( a: b; n. ATue, October 2, 2007. A) g# W8 [* s. \9 n6 M% X) N
House prices drop $10K in Calgary8 m: Y9 k3 }+ {& z8 f
UPDATED: 2007-10-02 01:41:36 MST+ u3 K8 c2 y3 y- x; S, m/ x
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7 A: d) T4 M" Z0 z% ~6 Z @By PABLO FERNANDEZ, SUN MEDIA
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2 n* y) `6 o5 ^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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+ m4 m1 N8 c* EThe median price of homes, the middle value of homes sold, fell to $420,500 last month, down from $430,000 in August, said the Calgary Real Estate Board in its monthly housing sales report.
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Yet, despite the falling prices, CREB president Ron Stanners said city home prices are still higher now than they were last year at this time.$ r. D8 C: D3 f& s: V: n B% b) g
9 Q3 {+ K: }# h"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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# i# u2 F' n- g! oThe pattern was identical in the condominium market, where more supply and fewer sales also resulted in more affordable prices.
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" m8 o. v! l8 l7 eThe number of condos going up for sale in September increased 10.88% over August, while there was a 12.66% decrease in units sold.! f$ f# }; H5 J# q4 v1 m
: C6 o: O1 O" J- yThe average house price in September was recorded at $470,888, down slightly from the August average price of $485,914. |
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