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http://calsun.canoe.ca/News/Alberta/2007/10/02/4542538-sun.html( G3 G; u' @# B7 \* `+ @& z
- H3 y& @* A3 k" W# y5 s# y& p1 ~Tue, October 2, 2007' H# \0 e! H4 ]: _* t6 v( e
House prices drop $10K in Calgary
0 t( n" P `. V9 d- dUPDATED: 2007-10-02 01:41:36 MST, ?! I2 U2 P8 z- t( G
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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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The median price of homes, the middle value of homes sold, fell to $420,500 last month, down from $430,000 in August, said the Calgary Real Estate Board in its monthly housing sales report.+ A- f7 ]6 N0 e+ s6 y7 L( R* H
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Yet, despite the falling prices, CREB president Ron Stanners said city home prices are still higher now than they were last year at this time.
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0 a; i. S) A; f i8 U* h. W- o"The market place is very good right now, but it has slowed down over the last three or four months," said Stanners. "It's beginning to move more towards a buyers' market but even still, sellers are still getting much more today than they were this time last year."$ ~! o8 n) t. l8 F0 X9 p4 e7 i: J9 e
8 M. J, B9 {8 g* U7 |$ [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.5 K' g8 K: [( H0 G! \% m
8 K3 |$ M) G, t a: V; EThe pattern was identical in the condominium market, where more supply and fewer sales also resulted in more affordable prices.$ g; |1 S+ x- Z7 z( G: L1 s
! q5 c C5 R( H5 b; kThe 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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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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