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http://calsun.canoe.ca/News/Alberta/2007/10/02/4542538-sun.html) m( S' [4 f5 R% [
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Tue, October 2, 2007
- `9 G |. m( G3 u! L5 p- JHouse prices drop $10K in Calgary
# v$ |+ Q+ a/ J; Q# q" h+ r5 tUPDATED: 2007-10-02 01:41:36 MST7 ~8 g# T m$ N" Y/ e. S
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By PABLO FERNANDEZ, SUN MEDIA* v7 h. S6 b7 w6 E* A, \- F
# E8 |% Y Q z' ZCalgary 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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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/ v1 k( A" }# Z4 Y
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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.2 \- |- [7 |! ^7 L
; {6 K) ]7 y. L9 k. X7 b"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." v( D* r6 o. Y
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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.% w0 u8 N# T' j& n
: b8 ]) Q Q2 y- ~0 Z0 q8 T FThe average house price in September was recorded at $470,888, down slightly from the August average price of $485,914. |
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