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http://calsun.canoe.ca/News/Alberta/2007/10/02/4542538-sun.html
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3 s+ l7 r- k2 J. k0 D2 nTue, October 2, 2007% z q9 |$ ^% W) R. C* f& P$ _
House prices drop $10K in Calgary
1 ?7 N$ u5 Y& B( YUPDATED: 2007-10-02 01:41:36 MST
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; ^4 u( h c4 r# ~! \By PABLO FERNANDEZ, SUN MEDIA
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4 I- \2 Y" ?2 Z1 l6 e; F+ jCalgary 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 $430,000 in August, said the Calgary Real Estate Board in its monthly housing sales report.
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Yet, despite the falling prices, CREB president Ron Stanners said city home prices are still higher now than they were last year at this time.
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& N! J. j' m5 ?0 M+ k) W# K"The market place is very good right now, but it has slowed down over the last three or four months," said Stanners. "It's beginning to move more towards a buyers' market but even still, sellers are still getting much more today than they were this time last year."
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/ @' H: w; Y6 W- K) L# X& ?7 ZIn fact, the median price of single-family homes in Calgary remained 9.68% higher in September than the same month last year. The number of single-family homes on the market jumped 5.15%, but sales slipped 19.03% in September from August, CREB figures say.
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The pattern was identical in the condominium market, where more supply and fewer sales also resulted in more affordable prices.5 U3 j' O% j' v1 y! ?$ p& P2 ~! @
7 o# o6 w. P# J2 E- R: _! hThe 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 Q V w: X1 S: o9 _* c. P& oThe average house price in September was recorded at $470,888, down slightly from the August average price of $485,914. |
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