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http://calsun.canoe.ca/News/Alberta/2007/10/02/4542538-sun.html1 \8 W' R5 `2 L8 O" F5 s
9 g" I- o4 E7 I* J9 Q3 s1 oTue, October 2, 2007" J. \& K2 u0 A, k8 g# D$ }
House prices drop $10K in Calgary* b# d4 |& s1 B8 n6 p- _8 n
UPDATED: 2007-10-02 01:41:36 MST
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% m& q& T* S; j1 T$ t5 m( ]& hBy PABLO FERNANDEZ, SUN MEDIA3 `0 o+ t, u2 f
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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.) E+ j1 V2 t8 ]; E
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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.1 R- ]; h4 E3 J/ P/ F4 l
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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. b& ^% }1 {, K* a3 M
. { }( l1 [8 V& ~( L* q"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."* h2 b9 z) ~0 H7 ?/ r7 m( G- w% r- ]
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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.+ z2 d! F. K( k4 E+ U# |& A
: {! u& u' f% `; JThe pattern was identical in the condominium market, where more supply and fewer sales also resulted in more affordable prices.7 d# M3 f+ }; C8 o) B: [9 I
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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." M' r1 Q3 b1 H' Y* @. A* K7 j+ \
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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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