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http://calsun.canoe.ca/News/Alberta/2007/10/02/4542538-sun.html
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- U9 q+ M" K# n0 Q! z$ j* gTue, October 2, 20073 f" l* B0 V/ G8 v" D; L
House prices drop $10K in Calgary7 X4 P8 b0 z" K; K$ Z
UPDATED: 2007-10-02 01:41:36 MST
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By PABLO FERNANDEZ, SUN MEDIA9 \3 _4 Z6 u |7 c7 d" W$ x4 `: z$ Q
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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.
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Z2 | q3 v7 }0 QThe median price of homes, the middle value of homes sold, fell to $420,500 last month, down from $430,000 in August, said the Calgary Real Estate Board in its monthly housing sales report.& W* I* F4 |0 u
. }5 A5 s5 m% B2 X$ [/ fYet, despite the falling prices, CREB president Ron Stanners said city home prices are still higher now than they were last year at this time.' g& b: o; [) g) E2 A, T
, ~& t) h; n. q k# |9 f"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."4 X8 @8 J, r" K: X R
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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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; B+ i9 U( C+ E6 _& b# 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.
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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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