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http://calsun.canoe.ca/News/Alberta/2007/10/02/4542538-sun.html, e+ O# S" R/ X
3 s4 f( H* D c# [/ Q9 O) fTue, October 2, 2007$ u5 j9 r( V) R, z
House prices drop $10K in Calgary
. B6 d3 O+ b3 QUPDATED: 2007-10-02 01:41:36 MST$ t2 R/ l$ \" m) j# S* P
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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., h; [5 q9 o" x) f. C3 w) r
- F* K# b& a' Y; Q/ ^The median price of homes, the middle value of homes sold, fell to $420,500 last month, down from $430,000 in August, said the Calgary Real Estate Board in its monthly housing sales report.
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Yet, despite the falling prices, CREB president Ron Stanners said city home prices are still higher now than they were last year at this time.
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$ u# U; @$ ]& H: \+ ?"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.". p' U! R: I- ~) F
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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.
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3 s. Q7 n2 k8 A+ z1 `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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