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http://calsun.canoe.ca/News/Alberta/2007/10/02/4542538-sun.html
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% v1 I) G6 @8 P4 ?Tue, October 2, 2007
- r ~" {+ C7 I# {2 z3 vHouse prices drop $10K in Calgary8 ?3 a2 v1 o0 N/ {6 K! p0 ~1 Q0 P
UPDATED: 2007-10-02 01:41:36 MST
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By PABLO FERNANDEZ, SUN MEDIA& a3 X& U/ X( {9 ~0 g$ u; k" h
! c, {) M' I2 R; b- rCalgary house prices sank $10,000 last month, the fourth decline in a row as inventory jumped and sales slumped, according to statistics released yesterday." A) I( {: X( \4 }$ o9 d
6 L/ R1 E3 W3 GThe median price of homes, the middle value of homes sold, fell to $420,500 last month, down from $430,000 in August, said the Calgary Real Estate Board in its monthly housing sales report. v. J# k4 T# W8 o8 p" Y$ i
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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.0 m& h$ {4 }- d* _# R4 n
5 T* q4 [$ i$ O+ b"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 X0 ~! y o* W) F! q" p
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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.
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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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U8 B3 d8 a- V: {. y2 g6 S! ] ~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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