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http://calsun.canoe.ca/News/Alberta/2007/10/02/4542538-sun.html2 S9 i8 u+ u& C5 Y0 K2 T4 S
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Tue, October 2, 2007( |1 F" [- n) `% B3 _: g3 m
House prices drop $10K in Calgary
9 `3 R9 D% }7 m& J" F BUPDATED: 2007-10-02 01:41:36 MST
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By PABLO FERNANDEZ, SUN MEDIA; g2 b& I7 L3 ?3 {! q1 g, r& f
) y& A# Y) x, @Calgary house prices sank $10,000 last month, the fourth decline in a row as inventory jumped and sales slumped, according to statistics released yesterday.: H# x3 h5 e% a
3 W$ @, s6 T' ^1 ~8 ^: v/ JThe median price of homes, the middle value of homes sold, fell to $420,500 last month, down from $430,000 in August, said the Calgary Real Estate Board in its monthly housing sales report.. ^+ w$ D" x* q; u8 |
4 J0 M2 ^/ ^9 K5 `4 }6 o( ~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.% }' d( W: y& l# C4 b: ?: u" N
" O1 {+ |3 M' W. y8 Z$ p! U"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." q7 ~. Z0 u8 n, J' a. S
5 S; G5 f, f: t8 o) E+ `. tIn 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.1 j% N' `3 R4 s+ t7 x: A
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The pattern was identical in the condominium market, where more supply and fewer sales also resulted in more affordable prices.( P7 [7 l9 |7 T. a. I( J* A) \3 s1 g/ 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.- f% M' B5 i2 f; B" w
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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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