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http://calsun.canoe.ca/News/Alberta/2007/10/02/4542538-sun.html. U" c) g* k' ?% m- I
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Tue, October 2, 2007& l9 l5 ]* H$ W( C
House prices drop $10K in Calgary _0 d( q9 ]( q( V" r* e
UPDATED: 2007-10-02 01:41:36 MST, k% W6 e4 G) n
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) P% G+ m, ]6 i" \By PABLO FERNANDEZ, SUN MEDIA5 U g Q( ?& D% s t# K
" W" E% s+ X1 `; z0 v2 b2 |! @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.
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4 Z3 R/ R8 T( o) wThe median price of homes, the middle value of homes sold, fell to $420,500 last month, down from $430,000 in August, said the Calgary Real Estate Board in its monthly housing sales report.) b) k$ K2 x: ?3 j
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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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! |+ e" v6 x$ W& O4 C' |"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."/ |4 e- E. I$ ]+ k
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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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! v& A$ P9 ?% OThe pattern was identical in the condominium market, where more supply and fewer sales also resulted in more affordable prices.
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7 R% s7 }9 d& c5 @4 f- ~: NThe 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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