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http://calsun.canoe.ca/News/Alberta/2007/10/02/4542538-sun.html1 R( o2 Y, ~7 ^# |
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Tue, October 2, 2007
, p) P0 R. D+ G1 T' A+ YHouse prices drop $10K in Calgary Z4 B* d9 n, c3 t
UPDATED: 2007-10-02 01:41:36 MST
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By PABLO FERNANDEZ, SUN MEDIA
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5 [0 U# w) F. j3 R7 a' DCalgary 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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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., k( v9 l( B# L* W n- n+ U
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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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"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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. ~5 G0 Q1 U" T3 `4 T) h8 C/ nIn 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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2 k8 c7 k/ |0 Q. @& YThe pattern was identical in the condominium market, where more supply and fewer sales also resulted in more affordable prices.3 H: C7 G, V4 S
2 p) v( T( s& Y; d" y0 sThe 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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