Calgary Real Estate Market Watch

BUYERS ENJOY GOLDEN OPPORTUNITY

Calgary, October 2, 2007 - Properties continue to change hands in Calgary at a respectable rate, despite high inventory numbers, according to figures released by the Calgary Real Estate Board (CREB®).

Single family Calgary metro sales for September 2007 were 1,064, a decrease of 10.81 per cent from the 1,193 sales recorded in September 2006 and a decrease of 19.03 per cent from the 1,314 sales recorded in August.

Single family Calgary metro new listings added for the month of September totaled, 3,106, a 5.15 per cent increase over the 2,954 new listings added in September 2006. This is an increase of 9.48 per cent over the 2,837 new listings added in August 2007.

The median price of a single family Calgary metro home in September 2007 was $420,500 showing a 9.68 per cent increase over September 2006, when the median price was $383,388 and showing a 2.21 per cent decrease from August when the median price was $430,000. All Calgary Metro MLS® statistics include properties listed and sold only within Calgary's City limits. The median price is the price that is midway between the least expensive and most expensive home sold in an area during a given period of time. During that time, half the buyers bought homes that cost more than the median price and half bought homes for less than the median price.

Calgary metro condominium new listings added in September were 1,315, showing an increase of 10.88 per cent from the 1,186 new listings added in August. This is a 16.47 per cent increase from the 1,129 new listings coming to market in September 2006. Calgary metro condominium sales in September 2007 were 483; a decrease of 12.66 per cent from September 2006, when the sales were recorded as 553 and a 19.23 per cent decrease from the 598 condominium sales recorded in August 2007.

"This is an excellent opportunity for buyers to purchase their dream home because of the wide selection of homes available in the Calgary and area marketplace," says Calgary Real Estate Board President, Ron Stanners. "Single Family Calgary Metro Sales declined 19.03 per cent from August sales, however, sales year-to-date are still marginally ahead of 2006 as of the end of September. The median price has dropped from $430,000 in August to $420,500 in September; a decline of 2.21%. Overall sales remain steady and we expect the market to remain steady through the balance of the year."

Source: CREB

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All information provided is deemed reliable but is not guaranteed accurate, and should be independently verified.

Disclaimer: Information herein deemed reliable but not guaranteed by the CREB and EREB.

Last updated on: 2012-02-04 00:18:34

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