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http://calsun.canoe.ca/News/Alberta/2007/10/02/4542538-sun.html0 L- n5 c$ _4 n: p
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Tue, October 2, 2007
# q0 t# ]. M3 {) LHouse prices drop $10K in Calgary
" d, @% [ G5 n( e* F0 s# W2 Z# rUPDATED: 2007-10-02 01:41:36 MST
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By PABLO FERNANDEZ, SUN MEDIA& G( y( p! ? u
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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.' J) ?" v& B0 l' s& F8 z' X, \
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The median price of homes, the middle value of homes sold, fell to $420,500 last month, down from $430,000 in August, said the Calgary Real Estate Board in its monthly housing sales report." k- ^+ `4 C& ?$ t# {( y8 L+ P
6 m6 a) s" M' M; SYet, despite the falling prices, CREB president Ron Stanners said city home prices are still higher now than they were last year at this time.5 X' f4 l0 N% z0 w/ I7 b2 T
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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."- O6 `4 F, W3 l X
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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.0 u! @: ? F& U) s5 r3 p7 J
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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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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.
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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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