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http://calsun.canoe.ca/News/Alberta/2007/10/02/4542538-sun.html
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9 } A( f+ Q. K9 xTue, October 2, 2007
7 a6 i3 b* O% R* K* ~4 F* E wHouse prices drop $10K in Calgary2 u( u: S% Y; j
UPDATED: 2007-10-02 01:41:36 MST
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$ A9 V4 T- ^5 b. s+ [6 NBy PABLO FERNANDEZ, SUN MEDIA2 O( y' [) T( M) B4 v% ?
& b) ^. b0 s' r4 A+ C0 O0 mCalgary 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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9 ]* T6 a8 `+ B! iThe median price of homes, the middle value of homes sold, fell to $420,500 last month, down from $430,000 in August, said the Calgary Real Estate Board in its monthly housing sales report.4 ~$ O5 J% [1 W6 o
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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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! p" }1 j# q$ Z J8 B, f {6 C"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."0 x X9 q3 U5 L1 [; @
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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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The pattern was identical in the condominium market, where more supply and fewer sales also resulted in more affordable prices.
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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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