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http://calsun.canoe.ca/News/Alberta/2007/10/02/4542538-sun.html
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; [6 i3 j1 S$ ~7 \Tue, October 2, 2007
, o% u8 s' p9 @5 _! R" kHouse prices drop $10K in Calgary
+ | I7 i6 ]: Z( Q5 ?UPDATED: 2007-10-02 01:41:36 MST! r: o+ t9 [& k* [. |
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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.0 h& v3 M9 G6 p( n/ L% Q. t2 Q
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The median price of homes, the middle value of homes sold, fell to $420,500 last month, down from $430,000 in August, said the Calgary Real Estate Board in its monthly housing sales report., w, d* b1 G: S
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Yet, despite the falling prices, CREB president Ron Stanners said city home prices are still higher now than they were last year at this time.3 E; E- p* S" A3 T
& X! _. p3 |9 i, H2 i$ W/ Y+ j1 G& Y"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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' @1 A1 y6 g$ c# Z- X0 i0 zThe pattern was identical in the condominium market, where more supply and fewer sales also resulted in more affordable prices.
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- y- r1 D0 ^/ T7 ZThe 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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: h- U- z$ f# l+ J: y4 XThe average house price in September was recorded at $470,888, down slightly from the August average price of $485,914. |
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