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http://calsun.canoe.ca/News/Alberta/2007/10/02/4542538-sun.html2 ^2 ]5 O- B' h+ `' h2 ?+ s! Y
, `' v4 c1 j( X1 w2 QTue, October 2, 2007
5 {3 o# e, A' x3 S0 L, ]House prices drop $10K in Calgary
" P& t/ j J3 \' X: G. zUPDATED: 2007-10-02 01:41:36 MST
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1 z3 v( s) r; P5 DBy PABLO FERNANDEZ, SUN MEDIA
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0 k7 w p. }- l3 d6 aCalgary house prices sank $10,000 last month, the fourth decline in a row as inventory jumped and sales slumped, according to statistics released yesterday./ E; W2 {& `1 ?4 U! ~9 J, J6 M
$ {- s7 O/ X2 _" S2 s- QThe median price of homes, the middle value of homes sold, fell to $420,500 last month, down from $430,000 in August, said the Calgary Real Estate Board in its monthly housing sales report.
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Yet, despite the falling prices, CREB president Ron Stanners said city home prices are still higher now than they were last year at this time.; [- c4 L' E4 C5 ]- K; O
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"The market place is very good right now, but it has slowed down over the last three or four months," said Stanners. "It's beginning to move more towards a buyers' market but even still, sellers are still getting much more today than they were this time last year."; f7 ?. Y! m4 u& A/ N- x
% L6 f' N+ Z- c2 {In fact, the median price of single-family homes in Calgary remained 9.68% higher in September than the same month last year. The number of single-family homes on the market jumped 5.15%, but sales slipped 19.03% in September from August, CREB figures say.4 I) X8 N; r' X$ X* X& }9 y* p' s
/ m; ~ O. s, I% ~ K/ h' j3 ^The pattern was identical in the condominium market, where more supply and fewer sales also resulted in more affordable prices.
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7 x1 u2 C1 ?* k. d- N3 S/ SThe 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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