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http://calsun.canoe.ca/News/Alberta/2007/10/02/4542538-sun.html+ _( M4 O' u1 [) a0 F( Z% E
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Tue, October 2, 2007' e7 e* B/ V& [, x% b
House prices drop $10K in Calgary9 o4 J. @* K/ t$ R5 x$ z
UPDATED: 2007-10-02 01:41:36 MST
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$ W" g3 d" M* fBy PABLO FERNANDEZ, SUN MEDIA/ Z0 T1 Z0 Q( h+ V
$ W" z0 z* t" Z- iCalgary house prices sank $10,000 last month, the fourth decline in a row as inventory jumped and sales slumped, according to statistics released yesterday.- W) _, u+ J s6 g$ r
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The median price of homes, the middle value of homes sold, fell to $420,500 last month, down from $430,000 in August, said the Calgary Real Estate Board in its monthly housing sales report.* b4 n- }# @$ f1 B! \- g
+ Q2 x9 r- C/ {' L# c, W. j( PYet, despite the falling prices, CREB president Ron Stanners said city home prices are still higher now than they were last year at this time., t! v4 ^) R3 M! q! N
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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."# |6 \; S# K( B1 n+ C. [8 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.; ]+ {7 b% a$ j+ J" D" b
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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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