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http://calsun.canoe.ca/News/Alberta/2007/10/02/4542538-sun.html% C" R7 _& |$ o' j6 P! e. ~
/ v: Z* c$ G0 x( D! C6 g2 ^Tue, October 2, 2007" r' j0 [% u4 t' Z% Y4 K9 U$ X
House prices drop $10K in Calgary8 l, n* {4 ^( b) S0 |# N0 C
UPDATED: 2007-10-02 01:41:36 MST+ Z* T. g: W# c' N; D" ]4 e9 \5 _+ d
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) q; Z$ S, k+ m. O$ z- A* zBy 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.* j# F& T. l5 b) J
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The median price of homes, the middle value of homes sold, fell to $420,500 last month, down from $430,000 in August, said the Calgary Real Estate Board in its monthly housing sales report.
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Yet, despite the falling prices, CREB president Ron Stanners said city home prices are still higher now than they were last year at this time.
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3 R0 D) c( z/ w/ u2 o"The market place is very good right now, but it has slowed down over the last three or four months," said Stanners. "It's beginning to move more towards a buyers' market but even still, sellers are still getting much more today than they were this time last year."
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& {5 a2 p8 o4 m. A- ?In fact, the median price of single-family homes in Calgary remained 9.68% higher in September than the same month last year. The number of single-family homes on the market jumped 5.15%, but sales slipped 19.03% in September from August, CREB figures say.7 u. d8 X! j2 E; l, W, Y
: G5 m8 C( d$ n& T5 c& FThe 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.2 l0 \2 z% x) N4 ]. ^
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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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