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http://calsun.canoe.ca/News/Alberta/2007/10/02/4542538-sun.html
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Tue, October 2, 20071 t9 e0 t3 g- v# X! O
House prices drop $10K in Calgary
5 b0 ]7 z* j, T4 @UPDATED: 2007-10-02 01:41:36 MST e" v; `- S0 W8 ~- V+ s; k
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6 }6 l3 ~: l. c% x) iBy PABLO FERNANDEZ, SUN MEDIA
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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.
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The median price of homes, the middle value of homes sold, fell to $420,500 last month, down from $430,000 in August, said the Calgary Real Estate Board in its monthly housing sales report.
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Yet, despite the falling prices, CREB president Ron Stanners said city home prices are still higher now than they were last year at this time.0 Y3 a: D5 e0 e
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"The market place is very good right now, but it has slowed down over the last three or four months," said Stanners. "It's beginning to move more towards a buyers' market but even still, sellers are still getting much more today than they were this time last year."
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In fact, the median price of single-family homes in Calgary remained 9.68% higher in September than the same month last year. The number of single-family homes on the market jumped 5.15%, but sales slipped 19.03% in September from August, CREB figures say.
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The pattern was identical in the condominium market, where more supply and fewer sales also resulted in more affordable prices.) x. ^) c" h$ d# b6 }2 ]
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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.# t6 N+ M! L* x4 J5 P
$ [4 y4 k8 S! N4 r2 z! z3 CThe average house price in September was recorded at $470,888, down slightly from the August average price of $485,914. |
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