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http://calsun.canoe.ca/News/Alberta/2007/10/02/4542538-sun.html
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& U5 U3 l1 q" d0 p8 xTue, October 2, 2007
4 U' }# Y, {; ?, n) d! IHouse prices drop $10K in Calgary
/ U7 k6 O! l3 V! lUPDATED: 2007-10-02 01:41:36 MST7 V" B$ F. ?) ]9 A! I$ G& `/ A
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: v1 P* H. a$ W) s* R. OBy 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.4 |5 k- Q3 h5 C+ g& q
5 z, [, ]; Z; w. o9 @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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& t/ R; f% e+ O5 }0 sYet, despite the falling prices, CREB president Ron Stanners said city home prices are still higher now than they were last year at this time.; C* l* X4 p6 C4 C3 t4 }; m
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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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% `6 a7 e/ d: @/ f i. NThe pattern was identical in the condominium market, where more supply and fewer sales also resulted in more affordable prices.' U2 k- J5 A5 l- p; F
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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.
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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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