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http://calsun.canoe.ca/News/Alberta/2007/10/02/4542538-sun.html& L, _, t( O. d! X1 P9 e* Y6 A
# S% A! I6 X# p2 X! b/ n! p; FTue, October 2, 2007
8 ?+ b7 K2 x& y8 v# ~House prices drop $10K in Calgary
+ Q3 ?- j5 o( O8 l5 FUPDATED: 2007-10-02 01:41:36 MST2 P9 J& N4 x# b: `& X
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By PABLO FERNANDEZ, SUN MEDIA" Q: j* e% Z# C Y; i, D) U
5 h7 W$ J) y" e7 \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! \! S+ k4 |4 r% Q
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The median price of homes, the middle value of homes sold, fell to $420,500 last month, down from $430,000 in August, said the Calgary Real Estate Board in its monthly housing sales report.0 [1 E3 @, |0 ~
9 f8 K1 N2 n3 Z, nYet, despite the falling prices, CREB president Ron Stanners said city home prices are still higher now than they were last year at this time.
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7 \8 t& I5 K$ m+ ^. E"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."5 o1 B8 d, x4 q: K( P W' N
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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.
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The pattern was identical in the condominium market, where more supply and fewer sales also resulted in more affordable prices.- c2 ^, n8 |% ~3 i: \# I. K$ {
G0 a Y4 b: K# c* N5 j9 ^- QThe number of condos going up for sale in September increased 10.88% over August, while there was a 12.66% decrease in units sold.$ A D6 C! o& B$ b7 D
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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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