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http://calsun.canoe.ca/News/Alberta/2007/10/02/4542538-sun.html5 `. v u. ] G0 @3 a- S$ S* G
' J) x* b9 i: g7 S& [; k* tTue, October 2, 20074 L$ o V0 A3 X& K! D2 q
House prices drop $10K in Calgary
: L4 l' P6 k1 s1 f0 YUPDATED: 2007-10-02 01:41:36 MST) f. c* [4 |' L
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* C' A8 I0 R6 |: `5 UBy 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.; }! X" }, D" X# o; L C. ]+ ~
# {7 N+ `' {3 S- G& `2 o- D, RThe median price of homes, the middle value of homes sold, fell to $420,500 last month, down from $430,000 in August, said the Calgary Real Estate Board in its monthly housing sales report.
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6 o7 P) C9 r7 J0 WYet, despite the falling prices, CREB president Ron Stanners said city home prices are still higher now than they were last year at this time.
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"The market place is very good right now, but it has slowed down over the last three or four months," said Stanners. "It's beginning to move more towards a buyers' market but even still, sellers are still getting much more today than they were this time last year."
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In fact, the median price of single-family homes in Calgary remained 9.68% higher in September than the same month last year. The number of single-family homes on the market jumped 5.15%, but sales slipped 19.03% in September from August, CREB figures say.
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The pattern was identical in the condominium market, where more supply and fewer sales also resulted in more affordable prices.
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The number of condos going up for sale in September increased 10.88% over August, while there was a 12.66% decrease in units sold.5 m$ I$ ]! C/ ?( q% {
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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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