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http://calsun.canoe.ca/News/Alberta/2007/10/02/4542538-sun.html
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& D" l/ w# L0 W6 \" Q6 o, oTue, October 2, 2007
0 y: a/ C0 J2 D4 S/ t& ~$ DHouse prices drop $10K in Calgary3 z% s, V0 J( q" h2 L
UPDATED: 2007-10-02 01:41:36 MST' G- `" r% X$ R. i# v9 h
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By PABLO FERNANDEZ, SUN MEDIA
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8 i. U- F3 M( Z& c0 z" XCalgary 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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6 I& w9 J0 z1 a* K* {! D5 [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.# E! k+ [0 }; _' }. o
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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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% |: J, y* M2 m0 k; E- m8 g, i2 CIn 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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