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http://calsun.canoe.ca/News/Alberta/2007/10/02/4542538-sun.html, D, ~5 w; I# I. e
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Tue, October 2, 20079 V: r3 M! D" N; `/ M8 k$ P
House prices drop $10K in Calgary
1 N/ F8 s" d# c2 }UPDATED: 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.. C% v% f& Q( `; d! ~7 p/ P9 F
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The median price of homes, the middle value of homes sold, fell to $420,500 last month, down from $430,000 in August, said the Calgary Real Estate Board in its monthly housing sales report., W9 C' C" W% ^- m2 Q# D7 R. E/ k
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Yet, despite the falling prices, CREB president Ron Stanners said city home prices are still higher now than they were last year at this time.
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" i/ T6 V* b9 c$ Y/ 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."* L0 D4 X- L" k& f: o) b" c6 i m
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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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* r+ r8 K( U' A2 j1 S% q$ pThe pattern was identical in the condominium market, where more supply and fewer sales also resulted in more affordable prices.8 b; u( u& f7 e, I; x" G4 X: y
) ~* G% r1 |5 E, t6 ]# A3 Z9 k% HThe number of condos going up for sale in September increased 10.88% over August, while there was a 12.66% decrease in units sold.8 K5 O' d* O5 [- R, r$ m
$ n& P" w; ?. q" |2 f) O; }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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