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http://calsun.canoe.ca/News/Alberta/2007/10/02/4542538-sun.html
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Tue, October 2, 2007
% [: E6 ~4 H/ Z& ]. BHouse prices drop $10K in Calgary
) v' [8 h1 t, B: iUPDATED: 2007-10-02 01:41:36 MST2 B. e: m- X0 f
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! t; }% t, ^' I) X! FBy PABLO FERNANDEZ, SUN MEDIA p6 D1 f, E5 e. E1 z
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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.
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The median price of homes, the middle value of homes sold, fell to $420,500 last month, down from $430,000 in August, said the Calgary Real Estate Board in its monthly housing sales report." i8 q5 S6 V B# Z" O5 _
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Yet, despite the falling prices, CREB president Ron Stanners said city home prices are still higher now than they were last year at this time.
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"The market place is very good right now, but it has slowed down over the last three or four months," said Stanners. "It's beginning to move more towards a buyers' market but even still, sellers are still getting much more today than they were this time last year."
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# {) ~! ^- k* F9 a+ P, ]3 BIn fact, the median price of single-family homes in Calgary remained 9.68% higher in September than the same month last year. The number of single-family homes on the market jumped 5.15%, but sales slipped 19.03% in September from August, CREB figures say.5 s9 u; l4 T/ f: b# W4 p4 f$ j9 x
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The pattern was identical in the condominium market, where more supply and fewer sales also resulted in more affordable prices.+ Z( B# T& u/ y6 o p. {
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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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4 E6 g5 t L; |: r$ d' JThe average house price in September was recorded at $470,888, down slightly from the August average price of $485,914. |
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