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http://calsun.canoe.ca/News/Alberta/2007/10/02/4542538-sun.html; y! l" R1 I8 ?3 _6 g# ?$ I
3 T1 R5 n j8 J* BTue, October 2, 20072 h6 ^ T, v' x# r* q0 d2 i9 k: u
House prices drop $10K in Calgary4 K. K4 E" y1 w% W/ \) t; A! m3 B
UPDATED: 2007-10-02 01:41:36 MST
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0 J/ M( u- p. L6 p. MBy PABLO FERNANDEZ, SUN MEDIA
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+ v$ {+ x& s4 |. {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.
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The median price of homes, the middle value of homes sold, fell to $420,500 last month, down from $430,000 in August, said the Calgary Real Estate Board in its monthly housing sales report.6 p* V$ g8 Z9 j3 d/ Q2 { O' k/ D1 q3 j
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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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3 ~1 Z7 X1 z" O# H! Y"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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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.0 w& M6 B& z. _2 s) ]* |
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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 T* L1 @$ _' b- U: `2 ^5 ~" H$ zThe number of condos going up for sale in September increased 10.88% over August, while there was a 12.66% decrease in units sold.* y' {, J) O9 l& T
! ~2 w M4 W' F) \" q$ @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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