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http://calsun.canoe.ca/News/Alberta/2007/10/02/4542538-sun.html
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Tue, October 2, 2007
. d4 g5 a l; pHouse prices drop $10K in Calgary
# b# |* M6 b) q+ g* {UPDATED: 2007-10-02 01:41:36 MST
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% z5 L; i& X. \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.
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! d' E! Z. O% F# n- s7 ?The median price of homes, the middle value of homes sold, fell to $420,500 last month, down from $430,000 in August, said the Calgary Real Estate Board in its monthly housing sales report.
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, I8 M* f/ J, n4 ?, C! P* TYet, despite the falling prices, CREB president Ron Stanners said city home prices are still higher now than they were last year at this time.
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"The market place is very good right now, but it has slowed down over the last three or four months," said Stanners. "It's beginning to move more towards a buyers' market but even still, sellers are still getting much more today than they were this time last year."7 B; T6 M& c; [, V0 V7 [/ a' a
- d" d- `! G; W; g- J' x" N9 z: KIn fact, the median price of single-family homes in Calgary remained 9.68% higher in September than the same month last year. The number of single-family homes on the market jumped 5.15%, but sales slipped 19.03% in September from August, CREB figures say.* M* n# t8 ?* F! N! t0 R$ ]- Z
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The pattern was identical in the condominium market, where more supply and fewer sales also resulted in more affordable prices.+ r3 m8 `1 m; _8 s% |: t
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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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h7 W; A$ n+ W& v5 ]1 \% {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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