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http://calsun.canoe.ca/News/Alberta/2007/10/02/4542538-sun.html3 |$ h- n" h/ C" y, j
! q) H* T; _9 q% Z* S% iTue, October 2, 2007
; P3 u: h# B6 ?" x3 P% {; BHouse prices drop $10K in Calgary
; M0 y, i( A+ MUPDATED: 2007-10-02 01:41:36 MST
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By PABLO FERNANDEZ, SUN MEDIA
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! }( H* k" V8 I5 G, iCalgary house prices sank $10,000 last month, the fourth decline in a row as inventory jumped and sales slumped, according to statistics released yesterday.: p( a! a3 K9 |' |6 B$ b6 B7 V
1 E P! V% [+ M/ w: {- rThe median price of homes, the middle value of homes sold, fell to $420,500 last month, down from $430,000 in August, said the Calgary Real Estate Board in its monthly housing sales report.# r. c6 n/ Y9 E' ]' b) `
' b3 C* x! D) s1 l3 w$ Z# P! G' YYet, despite the falling prices, CREB president Ron Stanners said city home prices are still higher now than they were last year at this time., F. T& y0 T D% L, ]5 {: k4 c
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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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. p9 z; \- y7 r8 F" m# UIn 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.; L/ H; z; q* L; l: f7 @- e
9 Y# \- H( c1 f! y6 G; i. J* oThe pattern was identical in the condominium market, where more supply and fewer sales also resulted in more affordable prices.
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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.+ i" H% B7 N5 L: t* M O
% x4 }; I9 H1 b. L5 V9 P6 P0 BThe average house price in September was recorded at $470,888, down slightly from the August average price of $485,914. |
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