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http://calsun.canoe.ca/News/Alberta/2007/10/02/4542538-sun.html* {# i6 M3 F: V
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Tue, October 2, 2007. V* L. b5 S( v, S3 Q" }
House prices drop $10K in Calgary
& B& s& b+ [# N7 D0 p# t8 WUPDATED: 2007-10-02 01:41:36 MST
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By PABLO FERNANDEZ, SUN MEDIA& Q& z- Q9 s, y1 ?
9 t, h* \( D! F( x9 [( K$ W. gCalgary 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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. b3 s: U# S) `The median price of homes, the middle value of homes sold, fell to $420,500 last month, down from $430,000 in August, said the Calgary Real Estate Board in its monthly housing sales report.
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Yet, despite the falling prices, CREB president Ron Stanners said city home prices are still higher now than they were last year at this time.
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, }+ d# {" o" ]/ N3 o1 ~' j"The market place is very good right now, but it has slowed down over the last three or four months," said Stanners. "It's beginning to move more towards a buyers' market but even still, sellers are still getting much more today than they were this time last year."3 B( l- h M8 Z( F; V8 E/ L( ]
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In fact, the median price of single-family homes in Calgary remained 9.68% higher in September than the same month last year. The number of single-family homes on the market jumped 5.15%, but sales slipped 19.03% in September from August, CREB figures say.2 ?. K2 w3 C9 F3 M3 R3 a# [' H
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The pattern was identical in the condominium market, where more supply and fewer sales also resulted in more affordable prices.' c+ m$ Z* v% W- V6 k" y8 a; Z; o
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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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