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http://calsun.canoe.ca/News/Alberta/2007/10/02/4542538-sun.html, |% e" Y9 k6 ] s, h0 w/ ~# h
# o" {* W: q. n; W- R. Y" pTue, October 2, 2007& T3 A9 H' f- c2 A1 E
House prices drop $10K in Calgary6 S4 @$ M* u$ H5 h
UPDATED: 2007-10-02 01:41:36 MST
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/ }0 |$ c. B# o/ R k, TBy PABLO FERNANDEZ, SUN MEDIA
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Calgary house prices sank $10,000 last month, the fourth decline in a row as inventory jumped and sales slumped, according to statistics released yesterday.0 a: J! g" }) P2 j7 S1 D$ c2 h% `8 k
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The median price of homes, the middle value of homes sold, fell to $420,500 last month, down from $430,000 in August, said the Calgary Real Estate Board in its monthly housing sales report.- W& W: I) j1 m
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Yet, despite the falling prices, CREB president Ron Stanners said city home prices are still higher now than they were last year at this time.6 T% g$ q9 m8 L b- y- E
) Z4 U* ?6 m; G4 t5 p6 P9 F"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."! S, b3 w% W+ o$ F7 J T
7 J- ?& k: |% ^. G& q% gIn 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.* H7 e7 X, K3 ^ X( \- n
, b# Q9 {3 B% p/ ]The pattern was identical in the condominium market, where more supply and fewer sales also resulted in more affordable prices.( h, N& B' X7 s$ f2 K) r
* o: A% x8 _; D+ l4 {7 M; 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.
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) q$ g$ v8 e$ fThe average house price in September was recorded at $470,888, down slightly from the August average price of $485,914. |
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