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http://calsun.canoe.ca/News/Alberta/2007/10/02/4542538-sun.html
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0 T; W" Z: y2 u+ }8 x- ~Tue, October 2, 2007
5 ` d( J5 d% [) G, `: I7 zHouse prices drop $10K in Calgary3 _4 i. K1 M: G0 p- y; X2 T5 J
UPDATED: 2007-10-02 01:41:36 MST8 k: d, v. Z# Y8 X2 P. t% c: q
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By PABLO FERNANDEZ, SUN MEDIA
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& q* C$ I. E- cCalgary house prices sank $10,000 last month, the fourth decline in a row as inventory jumped and sales slumped, according to statistics released yesterday.+ w5 a3 z2 N6 j5 G! ~9 M# z
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The median price of homes, the middle value of homes sold, fell to $420,500 last month, down from $430,000 in August, said the Calgary Real Estate Board in its monthly housing sales report.
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9 f. J$ U' v F; fYet, despite the falling prices, CREB president Ron Stanners said city home prices are still higher now than they were last year at this time.. G) X3 D" r! k) ]
6 E$ ^ e) o& L5 a+ N5 }9 q; k; ]+ X% }"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."9 u4 z5 k: x8 a1 \( O' I% B1 E
( e4 A k. {+ G$ SIn 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.8 k, s: u I$ U6 e0 h
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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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5 j7 h" j9 _( k; f( i5 Q8 z- }# U( FThe number of condos going up for sale in September increased 10.88% over August, while there was a 12.66% decrease in units sold.7 ^+ U1 A: {, \6 G! K t
7 _3 j1 q2 w& P- B: [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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