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http://calsun.canoe.ca/News/Alberta/2007/10/02/4542538-sun.html$ B+ r& Y3 `/ f2 ~, F9 \
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Tue, October 2, 20073 d) I+ r$ G" ` N5 M$ [
House prices drop $10K in Calgary
8 x. V, ?$ R% u- K; |3 U3 o$ J2 u' RUPDATED: 2007-10-02 01:41:36 MST- @4 F/ @, m( N% }6 N- Q
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3 @( J4 B3 |7 A( [By PABLO FERNANDEZ, SUN MEDIA
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, }/ e: d5 H0 F+ GCalgary house prices sank $10,000 last month, the fourth decline in a row as inventory jumped and sales slumped, according to statistics released yesterday./ k5 ~( ?9 V, w+ o
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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.4 J" J% f) u: {3 y0 }
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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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"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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0 d+ T: |7 k& B( j' W9 H, GIn 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./ \' n M) ^' l+ S/ s
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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.9 v9 a1 d+ B6 B
5 H% r' K# \ V( DThe average house price in September was recorded at $470,888, down slightly from the August average price of $485,914. |
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