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http://calsun.canoe.ca/News/Alberta/2007/10/02/4542538-sun.html4 X7 r! |7 I0 U8 b! N
3 S5 h& L5 M# i( \0 c8 Z1 L* ETue, October 2, 2007
! x9 y! I( _! b- j, I4 R" m( \House prices drop $10K in Calgary
& Y6 a- v# d% u9 x) L/ oUPDATED: 2007-10-02 01:41:36 MST, M b' s6 b) b5 i
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3 V2 B+ }. v6 z" ]8 S7 A4 `By PABLO FERNANDEZ, SUN MEDIA
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9 Y6 @ U0 B6 ]% q3 S, o6 w8 YCalgary 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.; _6 c: D# f* p; b! T" v# ]
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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." K; _/ l0 p& T0 o o- a- M9 }
, S* h) Y9 e# y2 HIn 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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7 l" w6 ^: I. ~2 {. Z* h) yThe 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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