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http://calsun.canoe.ca/News/Alberta/2007/10/02/4542538-sun.html4 p7 x, `' v% n( P/ [
3 M5 H% a6 d% V1 q2 {/ GTue, October 2, 2007
# R6 ~) B0 [( O) w3 K7 `House prices drop $10K in Calgary
8 \7 }) I9 O7 i/ OUPDATED: 2007-10-02 01:41:36 MST
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% e1 I* I) V0 X& t+ U1 }By PABLO FERNANDEZ, SUN MEDIA
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Calgary 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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7 k1 y7 J& s6 F! t, o( ?! AThe median price of homes, the middle value of homes sold, fell to $420,500 last month, down from $430,000 in August, said the Calgary Real Estate Board in its monthly housing sales report.
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6 Y6 F; u8 j9 s4 u$ 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.& _! [6 c6 U. C0 u' h6 n
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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." \+ i5 P' N/ K0 Q$ Q3 d M# e
2 d( @* X! M- o C# Y# eIn 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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9 a+ p; Q. g3 C) u: F% cThe pattern was identical in the condominium market, where more supply and fewer sales also resulted in more affordable prices.
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1 @$ y- o9 g' H' J: m: F" R; jThe 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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