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http://calsun.canoe.ca/News/Alberta/2007/10/02/4542538-sun.html
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Tue, October 2, 2007! Y) n9 x$ N$ p. }
House prices drop $10K in Calgary3 q0 e: K. W# m2 l* R3 h6 D
UPDATED: 2007-10-02 01:41:36 MST
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By PABLO FERNANDEZ, SUN MEDIA- a! q, F) \9 C5 R1 U
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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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, _( `% R! V, o( O/ pThe 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.1 Z |1 c9 G' q: y3 f: N
: R" M; L/ p2 }2 `"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.0 q, ?5 K9 z' O7 h
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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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+ r W' R' o: Y( b) RThe 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' U6 g# N7 N* V/ _
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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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