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http://calsun.canoe.ca/News/Alberta/2007/10/02/4542538-sun.html- ~0 [- q9 ?3 e, V5 }/ F4 l
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Tue, October 2, 2007) d+ _( j) ]% W; A5 u; Y) e* W/ L6 `
House prices drop $10K in Calgary
. T$ }& A$ \* H' @/ n# xUPDATED: 2007-10-02 01:41:36 MST
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" A- u: G% r6 t5 @% h7 K) kBy PABLO FERNANDEZ, SUN MEDIA
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& c, M& L) J; X% 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 $430,000 in August, said the Calgary Real Estate Board in its monthly housing sales report.! `* O F% Q( n' c5 F% s9 t3 |
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Yet, despite the falling prices, CREB president Ron Stanners said city home prices are still higher now than they were last year at this time. _. W& @/ [+ \+ b5 U* f+ @- G$ }' R
- g; s# W2 j2 Q"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."2 I4 a0 Y) s% z! z3 k9 w
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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.9 E! a# ?. [3 W# R( }* d
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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.& U3 a2 u) d3 n( S: n: M
( J; X; ~. d! x( j. iThe average house price in September was recorded at $470,888, down slightly from the August average price of $485,914. |
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