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http://calsun.canoe.ca/News/Alberta/2007/10/02/4542538-sun.html
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4 G A1 O& b! L* VTue, October 2, 20075 k; M4 o" O: |& a$ H0 l
House prices drop $10K in Calgary
* Q$ E& V8 r& n( TUPDATED: 2007-10-02 01:41:36 MST
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5 f1 Z, z& t7 s N* EBy 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.3 Z. \8 {9 h! P0 m0 y
$ ]7 o# Q/ v" l# aThe median price of homes, the middle value of homes sold, fell to $420,500 last month, down from $430,000 in August, said the Calgary Real Estate Board in its monthly housing sales report.. F$ _+ C- F, q9 T( p5 e
9 _- A0 v) f. M5 _, u" M2 p+ eYet, despite the falling prices, CREB president Ron Stanners said city home prices are still higher now than they were last year at this time.5 V3 F* x/ q( c% H' q% y2 E" v
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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."9 @3 B: G2 k) \5 H; d
6 A. g3 G8 r9 V9 V# h. S8 bIn 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.& i/ |" B, H3 s9 F
, B; z2 d& ?9 ]" d/ Y0 vThe 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.
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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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