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http://calsun.canoe.ca/News/Alberta/2007/10/02/4542538-sun.html/ [! i+ @1 z. c1 z8 B* y
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Tue, October 2, 2007
" N) g$ h7 H; X3 M+ o# cHouse prices drop $10K in Calgary
: H$ P4 n5 ^" ?9 \1 l0 cUPDATED: 2007-10-02 01:41:36 MST u4 b l3 N$ b" I# n4 H* E
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By PABLO FERNANDEZ, SUN MEDIA+ T: m! Z @5 s7 _& B
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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./ m+ ^5 W& M9 Z1 b% v
6 U; e: M9 ^1 J2 JThe median price of homes, the middle value of homes sold, fell to $420,500 last month, down from $430,000 in August, said the Calgary Real Estate Board in its monthly housing sales report./ q! R, o2 {: ~7 z. A
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Yet, despite the falling prices, CREB president Ron Stanners said city home prices are still higher now than they were last year at this time.
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"The market place is very good right now, but it has slowed down over the last three or four months," said Stanners. "It's beginning to move more towards a buyers' market but even still, sellers are still getting much more today than they were this time last year.". }: {+ I" h& P2 {
; c: K d8 b: w* b; G- ]In fact, the median price of single-family homes in Calgary remained 9.68% higher in September than the same month last year. The number of single-family homes on the market jumped 5.15%, but sales slipped 19.03% in September from August, CREB figures say.' E( J- d. S& D& U
* K: l- x3 |3 r6 \; m6 e% T0 `The pattern was identical in the condominium market, where more supply and fewer sales also resulted in more affordable prices.1 O: d+ E. u$ d1 k. H9 @0 Q
( B) o5 l) N/ l& `% E' d/ 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.* q; Y" ?# B2 M R- t: \
6 p! r+ s- J0 e- c/ VThe average house price in September was recorded at $470,888, down slightly from the August average price of $485,914. |
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