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http://calsun.canoe.ca/News/Alberta/2007/10/02/4542538-sun.html1 U6 |! O0 ]3 N$ H2 E
; c- ^; r+ d: Y) J& sTue, October 2, 20070 D6 N. i; u" q2 {, ~/ D
House prices drop $10K in Calgary- V! }0 L" G; l2 M1 B! ~) o
UPDATED: 2007-10-02 01:41:36 MST
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' h3 U' ]# N; [By PABLO FERNANDEZ, SUN MEDIA
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Calgary house prices sank $10,000 last month, the fourth decline in a row as inventory jumped and sales slumped, according to statistics released yesterday.7 i! I& K$ v& ^+ t7 ^
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The median price of homes, the middle value of homes sold, fell to $420,500 last month, down from $430,000 in August, said the Calgary Real Estate Board in its monthly housing sales report.
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2 S* s( ~$ `, S# C* \2 X8 h1 kYet, 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."# y& S. d; Q5 R- e, z
+ m0 \" V, c; Y I" {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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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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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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