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http://calsun.canoe.ca/News/Alberta/2007/10/02/4542538-sun.html2 f2 j# F6 v& h) @; t
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Tue, October 2, 20076 w- k; O! I) O, S- S8 c
House prices drop $10K in Calgary6 j* n f# a: L5 R# X' f7 W
UPDATED: 2007-10-02 01:41:36 MST
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By PABLO FERNANDEZ, SUN MEDIA" s6 `5 L$ U% @3 ~: O6 X
, S# H: p5 P4 A: t! w4 HCalgary 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# N& \ F8 r5 B1 S1 P
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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.
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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.) T# G# F2 D, ]
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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." F! c- o2 L% ^1 n0 T3 x7 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./ f* H" ~+ ]1 M
8 L( S1 J/ j. ^The pattern was identical in the condominium market, where more supply and fewer sales also resulted in more affordable prices.
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% j2 f" W/ Y# Y5 [& `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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