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http://calsun.canoe.ca/News/Alberta/2007/10/02/4542538-sun.html
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4 U. g3 }( Z' }- YTue, October 2, 2007$ H4 }+ W! H+ l
House prices drop $10K in Calgary6 d5 y* d3 `6 H* @8 u& e" r
UPDATED: 2007-10-02 01:41:36 MST
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! p0 k% y: m$ B3 NBy 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.+ E5 ^: A. S. l, X+ I# U5 c) S% P
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The median price of homes, the middle value of homes sold, fell to $420,500 last month, down from $430,000 in August, said the Calgary Real Estate Board in its monthly housing sales report.
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Yet, despite the falling prices, CREB president Ron Stanners said city home prices are still higher now than they were last year at this time.1 Y7 p( ^! ~0 w b$ u |
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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."7 I! Y3 |, S/ Y; e. D: J% y4 P: t6 I
* X5 K% J; L6 i- Z, l0 uIn 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.9 ^/ _4 G9 m+ x- O
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The pattern was identical in the condominium market, where more supply and fewer sales also resulted in more affordable prices.9 |/ P! c/ _( @& a/ s* Q
+ O3 x$ y# w! }$ m' t8 ~3 A) ^: rThe 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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