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http://calsun.canoe.ca/News/Alberta/2007/10/02/4542538-sun.html
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$ G; o9 F; m" i: HTue, October 2, 2007
D0 l+ |7 y9 q1 z# KHouse prices drop $10K in Calgary
4 D. \& n& X) ^* U3 M1 j: PUPDATED: 2007-10-02 01:41:36 MST
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& W) e% y) p0 V8 V5 Z# M9 U1 M: GBy PABLO FERNANDEZ, SUN MEDIA' z/ b. ~. v% ?
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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.% P; _5 J2 z9 A/ E
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The median price of homes, the middle value of homes sold, fell to $420,500 last month, down from $430,000 in August, said the Calgary Real Estate Board in its monthly housing sales report.
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Yet, despite the falling prices, CREB president Ron Stanners said city home prices are still higher now than they were last year at this time.# U; a7 w2 X7 p6 y3 }: f/ B
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"The market place is very good right now, but it has slowed down over the last three or four months," said Stanners. "It's beginning to move more towards a buyers' market but even still, sellers are still getting much more today than they were this time last year."
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In fact, the median price of single-family homes in Calgary remained 9.68% higher in September than the same month last year. The number of single-family homes on the market jumped 5.15%, but sales slipped 19.03% in September from August, CREB figures say.1 V# W$ d# p7 n1 V: 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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: `8 n. t( l, [' V+ Q; ]* hThe 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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, ~9 h9 b/ w2 ]. U* yThe average house price in September was recorded at $470,888, down slightly from the August average price of $485,914. |
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