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http://calsun.canoe.ca/News/Alberta/2007/10/02/4542538-sun.html: e n; s3 {" c# @5 z
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Tue, October 2, 2007
4 t7 j0 O' s0 E! K+ Q# jHouse prices drop $10K in Calgary3 |0 Z4 Y/ G) L% \: k9 d' [. O
UPDATED: 2007-10-02 01:41:36 MST
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- j3 ~# R+ g) f- r/ M- g% L9 h3 p* DBy PABLO FERNANDEZ, SUN MEDIA
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0 M. b6 s5 ]! c4 T' V- BCalgary house prices sank $10,000 last month, the fourth decline in a row as inventory jumped and sales slumped, according to statistics released yesterday.! ^- {$ o) I6 r7 b, i$ ^0 h& Y
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The median price of homes, the middle value of homes sold, fell to $420,500 last month, down from $430,000 in August, said the Calgary Real Estate Board in its monthly housing sales report.: D( `2 Y& d" d5 b7 {; l4 |
' B7 J- Y: L& ]8 R' k0 TYet, despite the falling prices, CREB president Ron Stanners said city home prices are still higher now than they were last year at this time.0 m; q `; N) \5 `
]' j2 X$ K4 D5 P8 H# @/ y"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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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.5 k0 Z b$ }- T7 ?- ?+ T
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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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