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http://calsun.canoe.ca/News/Alberta/2007/10/02/4542538-sun.html. S$ c4 j% \# l( k( c& m$ M8 T
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Tue, October 2, 2007& Y" Z/ S: P5 J1 W4 v4 F* U+ |. Q
House prices drop $10K in Calgary
4 K4 Y$ f$ @2 e; P/ x/ e& [UPDATED: 2007-10-02 01:41:36 MST2 C7 F1 {3 i, x! I+ @+ B0 R
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0 |/ }; H! l# W, `3 j3 CBy 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.4 c# u6 o1 r/ ]0 M5 }, a* V J4 F
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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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7 V. \) n$ o3 j7 K. mYet, 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." U, ~) C; |7 n, P& {
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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.% e1 J3 a3 K) e. }: G/ L D
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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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. X; O; o9 u$ O4 y0 q% c& aThe number of condos going up for sale in September increased 10.88% over August, while there was a 12.66% decrease in units sold.& h. ~+ S: K2 b/ A2 C
% g$ z* \' u; }! U! j! h1 GThe average house price in September was recorded at $470,888, down slightly from the August average price of $485,914. |
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