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http://calsun.canoe.ca/News/Alberta/2007/10/02/4542538-sun.html% G$ _* e( M5 ~+ B4 n# U Q/ A% \
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Tue, October 2, 2007
" s5 u, r) a6 I) @; C5 m6 H+ NHouse prices drop $10K in Calgary; B1 Z, F: y# i) `% D. m
UPDATED: 2007-10-02 01:41:36 MST0 _: P% u9 L. U. O! T* q5 d \( M0 C/ W$ Q
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7 E& { i2 c. [4 k: ^By PABLO FERNANDEZ, SUN MEDIA
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* H2 v7 r* A U' vCalgary house prices sank $10,000 last month, the fourth decline in a row as inventory jumped and sales slumped, according to statistics released yesterday.4 J6 y2 v: F; V6 ~1 Q
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The median price of homes, the middle value of homes sold, fell to $420,500 last month, down from $430,000 in August, said the Calgary Real Estate Board in its monthly housing sales report.
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Yet, despite the falling prices, CREB president Ron Stanners said city home prices are still higher now than they were last year at this time.
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"The market place is very good right now, but it has slowed down over the last three or four months," said Stanners. "It's beginning to move more towards a buyers' market but even still, sellers are still getting much more today than they were this time last year."
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5 k1 c, P( }! t3 l2 @In fact, the median price of single-family homes in Calgary remained 9.68% higher in September than the same month last year. The number of single-family homes on the market jumped 5.15%, but sales slipped 19.03% in September from August, CREB figures say." k5 V; {! V# y) B8 t
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The pattern was identical in the condominium market, where more supply and fewer sales also resulted in more affordable prices.; o$ t6 A3 _' |: Z
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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.1 L4 S9 l" v+ v0 p- s# A
) V h0 X9 y# CThe average house price in September was recorded at $470,888, down slightly from the August average price of $485,914. |
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