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http://calsun.canoe.ca/News/Alberta/2007/10/02/4542538-sun.html; X8 K4 ?# V8 R$ s+ }# x7 [
% z0 I0 u) Z* v! iTue, October 2, 2007
% A$ A7 Y4 ?* H# }2 CHouse prices drop $10K in Calgary
2 _' ]( v. z( Q3 h. a4 T: e8 YUPDATED: 2007-10-02 01:41:36 MST
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By PABLO FERNANDEZ, SUN MEDIA
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0 f3 _ o/ W0 d, J0 dCalgary 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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. Z! c+ B* ^& O- lThe 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.7 E' L9 ^4 g, _
( l/ F- r6 e1 o. ~) }4 ]. E, xYet, 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."
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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.. t' @( t' E0 }. A
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The pattern was identical in the condominium market, where more supply and fewer sales also resulted in more affordable prices.) C" V1 W. A& ~! Z
7 \- d8 H3 `) j" Z4 @% f- OThe number of condos going up for sale in September increased 10.88% over August, while there was a 12.66% decrease in units sold.: l; L& i, ?1 n4 ~; C+ ]9 p
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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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