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http://calsun.canoe.ca/News/Alberta/2007/10/02/4542538-sun.html! ~8 m$ R' N7 I/ p4 G+ o
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Tue, October 2, 20071 ]; r" E/ R- N4 ]! Y7 s
House prices drop $10K in Calgary9 ?' ]+ K, D+ c7 Z, V' K
UPDATED: 2007-10-02 01:41:36 MST+ T7 Q8 Q: A. o5 L1 _1 j+ m
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" q. ?$ ~* ?% H B1 t- U2 oBy PABLO FERNANDEZ, SUN MEDIA3 K- S+ G- B# x" R
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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 $430,000 in August, said the Calgary Real Estate Board in its monthly housing sales report.( V; W4 `& A3 m4 a$ f- J/ R
4 h, C0 p+ D. j+ Q; Q+ mYet, despite the falling prices, CREB president Ron Stanners said city home prices are still higher now than they were last year at this time.- L' Y0 ~+ x, G# O; d- s2 \
m( d5 }- u) t. `"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.
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/ D6 p1 s) N$ }2 a g7 jThe pattern was identical in the condominium market, where more supply and fewer sales also resulted in more affordable prices." V# x' F+ g" L% G
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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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+ @' l( G: ~; c4 JThe average house price in September was recorded at $470,888, down slightly from the August average price of $485,914. |
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