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http://calsun.canoe.ca/News/Alberta/2007/10/02/4542538-sun.html: J' X" G: X$ Y! i
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Tue, October 2, 2007
) Q" J3 g, ?' ~+ _. SHouse prices drop $10K in Calgary
3 c" U$ E. [6 {8 DUPDATED: 2007-10-02 01:41:36 MST
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By 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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/ A9 k3 W! j9 e; Y' CThe median price of homes, the middle value of homes sold, fell to $420,500 last month, down from $430,000 in August, said the Calgary Real Estate Board in its monthly housing sales report.3 ]/ \ H4 n: h8 G6 }; s- O
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Yet, despite the falling prices, CREB president Ron Stanners said city home prices are still higher now than they were last year at this time.( ~) L0 p' \" o. Y$ J8 Q0 {# ^$ G
6 U8 F7 t! z( e& e/ v"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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- s1 Z6 [" s# n* f& C( Z) qIn 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.( f; C' Q: E2 }8 e9 d6 Q2 Z. 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.
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Q. g# I; b) Z: ~9 i. pThe number of condos going up for sale in September increased 10.88% over August, while there was a 12.66% decrease in units sold.' n4 t! H, U! P7 r6 P- z+ ~! |: N
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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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