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http://calsun.canoe.ca/News/Alberta/2007/10/02/4542538-sun.html: K: x( T4 y7 A- x5 Q6 I
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Tue, October 2, 2007
- G K/ t# M% E1 u' ^0 w: C# nHouse prices drop $10K in Calgary
$ ~$ X4 b! P+ c9 L7 S5 HUPDATED: 2007-10-02 01:41:36 MST B2 Z( U: p U; Z
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By PABLO FERNANDEZ, SUN MEDIA
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; G6 f3 |/ m+ g9 n/ {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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1 ~# ~/ A- p+ c* W* j4 [& |! 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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5 j! I4 c' ~7 p4 L' F- TYet, despite the falling prices, CREB president Ron Stanners said city home prices are still higher now than they were last year at this time.
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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.": l* |" Z/ o, a; E7 d% \
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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./ F: M, @9 K8 K% f: R
0 V. Q" ?( h/ o2 XThe pattern was identical in the condominium market, where more supply and fewer sales also resulted in more affordable prices.
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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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% G. ?# C* J" Y, r7 vThe average house price in September was recorded at $470,888, down slightly from the August average price of $485,914. |
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