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http://calsun.canoe.ca/News/Alberta/2007/10/02/4542538-sun.html! [) P4 J8 E1 O/ _( _, A" _! M
1 z! w. d0 k5 W: @+ p' |Tue, October 2, 2007
; k9 o* t9 O g6 [# I( X; Q" G' Q1 f1 ~House prices drop $10K in Calgary
0 F( e8 `% A6 m+ S; G9 o' GUPDATED: 2007-10-02 01:41:36 MST
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By PABLO FERNANDEZ, SUN MEDIA( n: s; n$ y- W9 r t3 H/ `
0 d0 F G$ b" b4 i, J6 vCalgary 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.2 H) ^7 b% O F7 s2 a+ t
* k2 F, G {: n- N' _"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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! N# ]9 H& G* s6 l1 s5 B9 [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.
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0 Y; k, G7 W# }8 m: O2 T. 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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9 s& b. s* \; r* l2 }8 c9 w) zThe average house price in September was recorded at $470,888, down slightly from the August average price of $485,914. |
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