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http://calsun.canoe.ca/News/Alberta/2007/10/02/4542538-sun.html' y9 x* w" m4 Z" ?- N
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Tue, October 2, 2007. x/ t! I3 a1 U/ z
House prices drop $10K in Calgary5 C! D! t; @* @1 W3 q- H# a
UPDATED: 2007-10-02 01:41:36 MST
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By PABLO FERNANDEZ, SUN MEDIA9 d: i0 M3 v1 _ J5 w* S; B4 C+ N
# `- B4 D r4 P& O" \5 {- zCalgary house prices sank $10,000 last month, the fourth decline in a row as inventory jumped and sales slumped, according to statistics released yesterday.7 w! T/ L, P" c! l8 A- u8 F% Y
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The median price of homes, the middle value of homes sold, fell to $420,500 last month, down from $430,000 in August, said the Calgary Real Estate Board in its monthly housing sales report.
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Yet, despite the falling prices, CREB president Ron Stanners said city home prices are still higher now than they were last year at this time.
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"The market place is very good right now, but it has slowed down over the last three or four months," said Stanners. "It's beginning to move more towards a buyers' market but even still, sellers are still getting much more today than they were this time last year."
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In fact, the median price of single-family homes in Calgary remained 9.68% higher in September than the same month last year. The number of single-family homes on the market jumped 5.15%, but sales slipped 19.03% in September from August, CREB figures say.
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The pattern was identical in the condominium market, where more supply and fewer sales also resulted in more affordable prices.$ m0 v }) {" c5 d% T
" c$ N. Y* z4 y' Z% Y* D6 y _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.0 L' e1 D$ J4 p5 ^
& ?. O; I& y( F1 h5 s, qThe average house price in September was recorded at $470,888, down slightly from the August average price of $485,914. |
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