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http://calsun.canoe.ca/News/Alberta/2007/10/02/4542538-sun.html( V% z7 c5 c; O, M* n, _9 A
/ V2 S$ M( U; s1 DTue, October 2, 2007
8 T1 t/ G0 F5 i( }House prices drop $10K in Calgary
2 Z/ i) O' @& e/ B PUPDATED: 2007-10-02 01:41:36 MST
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By PABLO FERNANDEZ, SUN MEDIA
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Calgary house prices sank $10,000 last month, the fourth decline in a row as inventory jumped and sales slumped, according to statistics released yesterday.# u b. m( C( u x$ 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.; `3 J! E/ R3 x' y8 O+ n5 [
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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."5 i7 @% ?; w `
! A' ?5 x0 ?7 ~. O2 AIn 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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8 c% o0 l! _, g4 S* \6 |, XThe pattern was identical in the condominium market, where more supply and fewer sales also resulted in more affordable prices.7 W/ ?& ~: _% V4 F& ]( u+ u
/ E; c" B* [7 g8 nThe 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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