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http://calsun.canoe.ca/News/Alberta/2007/10/02/4542538-sun.html
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6 x& w% B8 A1 n$ gTue, October 2, 2007
+ v! U4 N- u5 {House prices drop $10K in Calgary+ U' T- _3 K2 c0 h+ [; t/ j
UPDATED: 2007-10-02 01:41:36 MST0 ]8 R1 H* t, [" T# i: i6 r- |
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By PABLO FERNANDEZ, SUN MEDIA
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9 e' t; i' a& u" O9 n8 A" 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.
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The median price of homes, the middle value of homes sold, fell to $420,500 last month, down from $430,000 in August, said the Calgary Real Estate Board in its monthly housing sales report.$ ^8 ?& t2 ]; |, n0 r+ ?
: ?+ u. }0 r8 q f+ G0 g$ @3 p% AYet, 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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: {, _4 \9 v% `6 \"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."9 @" _7 ?, o; n. K
$ F/ J6 o4 X" k3 N I" [" X4 mIn 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.) B8 ~8 c4 I3 a- Z3 x& Z1 V
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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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7 g% i$ H& o3 O5 i- ^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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