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http://calsun.canoe.ca/News/Alberta/2007/10/02/4542538-sun.html Z9 U& d% O! N! A f0 o
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Tue, October 2, 2007
9 f0 w# T: B7 s6 V- \ ^House prices drop $10K in Calgary( n3 c% z, @5 J& P* E6 i$ H
UPDATED: 2007-10-02 01:41:36 MST: E( r! s* B: S0 B6 R
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/ _" s/ w2 ~" x% V0 VBy 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.
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: }1 H6 I) M# m6 q' J; o3 YThe 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.) x- P8 o' Q8 L5 Z: f9 [, O
( H: b ?3 Z: K2 u3 i: p; ~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. z1 G* p9 M% ~, `
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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."3 j) V; X- Q! G# I9 L& Z8 @
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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.5 w% R L- V( h4 U' ], ~# F0 w
. R" W: o3 J `9 FThe pattern was identical in the condominium market, where more supply and fewer sales also resulted in more affordable prices.
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2 }% s F' ^# M8 Y0 j. R( G3 ^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.8 M1 G" B: P8 r. u9 s/ ^
% L8 x+ s9 z2 c" F# y; ]; j: jThe average house price in September was recorded at $470,888, down slightly from the August average price of $485,914. |
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