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http://calsun.canoe.ca/News/Alberta/2007/10/02/4542538-sun.html
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' H5 k# s: F# s2 O( vTue, October 2, 2007
3 z4 i* C2 W! }( w$ \House prices drop $10K in Calgary, x% a- a+ z: w! [6 f5 v! i* b
UPDATED: 2007-10-02 01:41:36 MST- J V a9 \; y5 G
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By PABLO FERNANDEZ, SUN MEDIA
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6 j5 ~! @9 g" f3 B% o3 k# A! U3 XCalgary house prices sank $10,000 last month, the fourth decline in a row as inventory jumped and sales slumped, according to statistics released yesterday.% h1 Z0 `( x1 K' P: L4 U, p# o$ W
$ L- u1 r" g2 b3 b0 {1 L0 vThe median price of homes, the middle value of homes sold, fell to $420,500 last month, down from $430,000 in August, said the Calgary Real Estate Board in its monthly housing sales report.% `' d4 e+ j! c1 U }
8 Y# H9 P( c/ m2 e! b/ B L2 K6 uYet, despite the falling prices, CREB president Ron Stanners said city home prices are still higher now than they were last year at this time.' f3 q0 T+ N0 e- n% W
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"The market place is very good right now, but it has slowed down over the last three or four months," said Stanners. "It's beginning to move more towards a buyers' market but even still, sellers are still getting much more today than they were this time last year."
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In fact, the median price of single-family homes in Calgary remained 9.68% higher in September than the same month last year. The number of single-family homes on the market jumped 5.15%, but sales slipped 19.03% in September from August, CREB figures say.. H! @. ~+ }2 I i3 P
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The pattern was identical in the condominium market, where more supply and fewer sales also resulted in more affordable prices.
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$ n1 Z& T6 T6 |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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% X3 X9 P/ i: ?. u- ~9 zThe average house price in September was recorded at $470,888, down slightly from the August average price of $485,914. |
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