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http://calsun.canoe.ca/News/Alberta/2007/10/02/4542538-sun.html) y4 v- q# J. H8 G
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House prices drop $10K in Calgary
! |: a' x: n7 @7 A% N' f1 ?" uUPDATED: 2007-10-02 01:41:36 MST
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By PABLO FERNANDEZ, SUN MEDIA' C- T3 d: x+ d9 @5 v/ u
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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.: ? |* e; B+ L' V6 A
6 c6 D1 M1 `. D4 n2 xThe median price of homes, the middle value of homes sold, fell to $420,500 last month, down from $430,000 in August, said the Calgary Real Estate Board in its monthly housing sales report.4 [" u' k- x8 F! }& s; v+ [2 ^3 d; ~
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Yet, despite the falling prices, CREB president Ron Stanners said city home prices are still higher now than they were last year at this time.$ o( e% t( x5 A! L
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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.$ i& a* F. [/ L. L( s6 m
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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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+ E& S8 i: b4 ~6 hThe average house price in September was recorded at $470,888, down slightly from the August average price of $485,914. |
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