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http://calsun.canoe.ca/News/Alberta/2007/10/02/4542538-sun.html+ g0 i4 U; V6 C. a, z6 y3 l
5 K/ \- h: M- E, q% yTue, October 2, 20077 T+ N- B8 B% R1 z) X
House prices drop $10K in Calgary
3 i# J* s( L, ?" B( ~* u* U) aUPDATED: 2007-10-02 01:41:36 MST
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# R$ t, s% d* z3 o8 Q& _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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* {+ q1 D) |8 Y8 x( B9 aThe median price of homes, the middle value of homes sold, fell to $420,500 last month, down from $430,000 in August, said the Calgary Real Estate Board in its monthly housing sales report.
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Yet, despite the falling prices, CREB president Ron Stanners said city home prices are still higher now than they were last year at this time.- b4 c$ D" ^/ _: d
' U) z" _4 M0 T, a# o"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.& O J; b" `" k1 U8 E+ o. d
/ I( `: d- u" ?; kThe pattern was identical in the condominium market, where more supply and fewer sales also resulted in more affordable prices.' [) @0 a1 a7 Z! r; s* u
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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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