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http://calsun.canoe.ca/News/Alberta/2007/10/02/4542538-sun.html1 q4 O' I: ]) m: t0 h! \
7 t0 P, I2 a4 ~2 t" `& tTue, October 2, 20071 l. K8 [! y% y
House prices drop $10K in Calgary
+ _- N) O8 f' G" u, |5 i: PUPDATED: 2007-10-02 01:41:36 MST
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By PABLO FERNANDEZ, SUN MEDIA
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: c1 L0 r+ K/ s; _, ECalgary house prices sank $10,000 last month, the fourth decline in a row as inventory jumped and sales slumped, according to statistics released yesterday.8 K: h4 L, K" T7 C/ h* I
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The median price of homes, the middle value of homes sold, fell to $420,500 last month, down from $430,000 in August, said the Calgary Real Estate Board in its monthly housing sales report.
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: U: T7 M0 k1 MYet, despite the falling prices, CREB president Ron Stanners said city home prices are still higher now than they were last year at this time.8 Q+ S: Z- C" D* h ]
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"The market place is very good right now, but it has slowed down over the last three or four months," said Stanners. "It's beginning to move more towards a buyers' market but even still, sellers are still getting much more today than they were this time last year."
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In fact, the median price of single-family homes in Calgary remained 9.68% higher in September than the same month last year. The number of single-family homes on the market jumped 5.15%, but sales slipped 19.03% in September from August, CREB figures say.
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$ e2 j3 {- I0 b! F( xThe pattern was identical in the condominium market, where more supply and fewer sales also resulted in more affordable prices.
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3 e% y- {! B' S6 P+ nThe number of condos going up for sale in September increased 10.88% over August, while there was a 12.66% decrease in units sold.2 `- e& q! n; 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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