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http://calsun.canoe.ca/News/Alberta/2007/10/02/4542538-sun.html. u/ I3 H1 W4 N
5 Y" |. `, @2 F! b; S+ jTue, October 2, 2007
6 h. c) U6 }3 I- lHouse prices drop $10K in Calgary. o- ?* e# O+ N) x1 r
UPDATED: 2007-10-02 01:41:36 MST
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- f1 j; ^. c# [: M* Q! ^By PABLO FERNANDEZ, SUN MEDIA
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Calgary house prices sank $10,000 last month, the fourth decline in a row as inventory jumped and sales slumped, according to statistics released yesterday.- c& _7 |$ L+ f; t
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The median price of homes, the middle value of homes sold, fell to $420,500 last month, down from $430,000 in August, said the Calgary Real Estate Board in its monthly housing sales report.7 E# P1 e, k: L0 z; W6 C. G$ M
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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.+ T1 H% p3 T+ G
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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."& s. @! {! A3 T- X
' y% {2 v/ \6 X! d! XIn 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.' G7 k( [: b4 H! B# b3 I
8 j& m- H p" D: Z9 Z+ f/ xThe pattern was identical in the condominium market, where more supply and fewer sales also resulted in more affordable prices.
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; o, ^8 h2 h' t( [1 _ JThe 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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{" u0 R" ]! Z: c" j$ lThe average house price in September was recorded at $470,888, down slightly from the August average price of $485,914. |
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