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http://calsun.canoe.ca/News/Alberta/2007/10/02/4542538-sun.html- `) P/ R# E2 }+ u
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Tue, October 2, 2007
9 c. W; ?& Y8 s! b# H! \$ G! ~House prices drop $10K in Calgary
* x! U) y& y5 o0 a$ OUPDATED: 2007-10-02 01:41:36 MST$ [, U9 n2 S. R5 p
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By PABLO FERNANDEZ, SUN MEDIA& n: R2 R4 ?/ p `
8 D3 p0 ^* E: G0 h$ Q* ]Calgary house prices sank $10,000 last month, the fourth decline in a row as inventory jumped and sales slumped, according to statistics released yesterday., m u; e1 G$ n2 H
/ Z2 l: n/ ^: w3 I4 O2 v7 d+ ~The median price of homes, the middle value of homes sold, fell to $420,500 last month, down from $430,000 in August, said the Calgary Real Estate Board in its monthly housing sales report.
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6 a5 d" u5 P9 q. Z0 Z8 h( ?' ^! RYet, despite the falling prices, CREB president Ron Stanners said city home prices are still higher now than they were last year at this time.
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+ a: J! z; s+ `! J"The market place is very good right now, but it has slowed down over the last three or four months," said Stanners. "It's beginning to move more towards a buyers' market but even still, sellers are still getting much more today than they were this time last year."
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$ p5 n: U2 K) [) |$ IIn 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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- j! u$ l4 o, e3 w/ JThe number of condos going up for sale in September increased 10.88% over August, while there was a 12.66% decrease in units sold.7 F! {7 l% [( R6 B2 q3 @
: I3 z2 e/ [6 O& n+ ~5 x; @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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