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http://calsun.canoe.ca/News/Alberta/2007/10/02/4542538-sun.html3 C$ @7 c( K# t7 O
! D, O& b% P: [# ^: F& ~: N& T7 rTue, October 2, 2007
5 P3 M$ q4 ~! z% _9 ~) i6 p/ vHouse prices drop $10K in Calgary
# u7 I4 P+ N( W7 ^UPDATED: 2007-10-02 01:41:36 MST: I; p! v3 N" ?$ X! G
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( {" L; m( e- q' l; FBy 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.- L" p, V3 r' l! }4 I
) `" ^6 ^8 _1 u) P0 a2 LThe median price of homes, the middle value of homes sold, fell to $420,500 last month, down from $430,000 in August, said the Calgary Real Estate Board in its monthly housing sales report.
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Yet, despite the falling prices, CREB president Ron Stanners said city home prices are still higher now than they were last year at this time.5 a4 R+ p& I" U, @- ~% f
8 }1 ~1 h2 G2 [/ R3 Q! d+ P+ s"The market place is very good right now, but it has slowed down over the last three or four months," said Stanners. "It's beginning to move more towards a buyers' market but even still, sellers are still getting much more today than they were this time last year."" O1 O; l8 @% w: w7 B k
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In fact, the median price of single-family homes in Calgary remained 9.68% higher in September than the same month last year. The number of single-family homes on the market jumped 5.15%, but sales slipped 19.03% in September from August, CREB figures say./ q4 a) T4 t7 O [+ Z% L* k
9 t! p3 M! r6 q+ {The pattern was identical in the condominium market, where more supply and fewer sales also resulted in more affordable prices.
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1 c9 S) a5 \* D# x. h% u i7 eThe number of condos going up for sale in September increased 10.88% over August, while there was a 12.66% decrease in units sold.) ]7 G$ m( t& V5 m& S
0 |* U! j; q6 hThe average house price in September was recorded at $470,888, down slightly from the August average price of $485,914. |
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