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http://calsun.canoe.ca/News/Alberta/2007/10/02/4542538-sun.html
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+ [# j( u0 h% F, Y# U: i$ e5 ZTue, October 2, 2007
; g5 B( x9 { yHouse prices drop $10K in Calgary
& F! h$ o+ Z2 r4 f) h" FUPDATED: 2007-10-02 01:41:36 MST6 P& i; ?- B. z+ R. x7 C$ @
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By 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 A5 K! s! v7 V9 x4 m& k% c
4 G5 M2 ~; m; I3 \The median price of homes, the middle value of homes sold, fell to $420,500 last month, down from $430,000 in August, said the Calgary Real Estate Board in its monthly housing sales report.
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Yet, despite the falling prices, CREB president Ron Stanners said city home prices are still higher now than they were last year at this time.
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4 R) J, J- q/ J" k, N' n"The market place is very good right now, but it has slowed down over the last three or four months," said Stanners. "It's beginning to move more towards a buyers' market but even still, sellers are still getting much more today than they were this time last year.") d# ?5 p; X: ?% W7 ^4 l3 x8 y
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In fact, the median price of single-family homes in Calgary remained 9.68% higher in September than the same month last year. The number of single-family homes on the market jumped 5.15%, but sales slipped 19.03% in September from August, CREB figures say.
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1 q$ N: N1 ^7 T0 u6 l: D% |6 iThe pattern was identical in the condominium market, where more supply and fewer sales also resulted in more affordable prices.5 y" d0 r( a. n5 N+ X9 T2 S6 b
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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.0 y/ C* q4 Z, u& W
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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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