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http://calsun.canoe.ca/News/Alberta/2007/10/02/4542538-sun.html1 Y: e- |2 B( m
7 T) A6 M+ p+ h7 Z. \& p+ K7 tTue, October 2, 20077 K- O# q! Q1 Q- k
House prices drop $10K in Calgary
7 P' C2 r8 A4 k1 \- P( G# [; `# D6 wUPDATED: 2007-10-02 01:41:36 MST
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By PABLO FERNANDEZ, SUN MEDIA
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/ I- M4 r' T4 p7 R6 W0 Y$ W8 wCalgary 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 $430,000 in August, said the Calgary Real Estate Board in its monthly housing sales report.- q) {6 `; Z2 ^( |; o0 h
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Yet, despite the falling prices, CREB president Ron Stanners said city home prices are still higher now than they were last year at this time.2 a( d8 S+ {! {+ F+ H( D$ \
$ V* e% E+ L3 H- U- p9 x: j) O2 M9 Y7 j9 w"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.". n; S ^/ n& Q5 K& S
4 ]9 Z' |3 C0 a* m6 O( J& ZIn 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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1 T* S# ]- j5 L% t% q4 I5 \) [' ZThe pattern was identical in the condominium market, where more supply and fewer sales also resulted in more affordable prices.& W6 h8 F# M2 f# H8 a% }
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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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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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