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Calgary Real Estate Market Overview

SALES DOWN SLIGHTLY FROM MARCH BUT PRICES MAINTAIN POSITIVE INCREASE

Calgary, May 2, 2006 – MLS® sales continued to show a steady and strong pace in the month of April, while average prices hit an all time high, according to figures released by the Calgary Real Estate Board.

April combined residential sales totaled 3,389, the highest April on record, showing a 5.68 per cent increase over April 2005, when the sales were recorded as 3,207 and showing a very slight decrease of 3.09 per cent from last months all time high of 3,497. The breakdown of the April combined sales was, 2,445 single-family residences, 922 condominium, and 22 mobile homes. April 2005 sales in the same categories were, 2,351; 842; and 14, respectively.

The average combined residential sale price for April 2006 was $341,838, the highest sale price on MLS® record, showing a 37.18 per cent increase over April 2005, when the average price was $249,195, and a 5.03 per cent increase over March 2006’s average price of $325,481. Broken out, the following is a comparison of single-family, condominium, and mobile home average sale prices for the month of April 2006 over 2005: single-family $376,725 / $273,953; condominium $256,455 / $183,541; and mobile home $42,968 / $40,157.

Condominium sales also kept a steady pace with 922 sales changing hands. Sales for condominiums for the same period last year were 842 showing a 9.50 per cent increase. The average condominium price in April 2006 was $256,455, the highest ever in MLS® history, compared to the $183,541 in April 2005; a 39.73 per cent increase and an 8.93 per cent increase over the March average price of $235,427.

April 2006 residential combined listings totaled 3,572, a 15.42 per cent decrease from April 2005, when 4,223 listings came to market and showing a 9.55 per cent decrease over the 3,949 homes listed in March.

“The April sales numbers confirm our anticipated gradual stabilization in the spring real estate market”, reported CREB® President, Kevin Clark. “Unit sales in April were down slightly from March but with 374 sales over $500,000 the average sale price has again increased to an all time high”, he continued. “Markets rarely stay on a straight line course and this one is no different”, warned Clark, “Talk with your REALTOR about market changes, the significance of right pricing and preparation – it is going to be important as we head into summer”.

Average price information can be useful in establishing trends over time, but does not indicate actual prices in centres comprised of widely divergent neighbourhoods or account for price differentials between geographical areas. The median price is determined by selecting the middle number of total sale prices – the combined residential median price for April 2006 was $312,000; up 41.05 per cent from April 2005, when the median price was $221,200 and up 9.47 per cent from the median price in March of $285,000.

The Calgary Real Estate Board is a professional body of 5,166 licensed brokers and registered agents, representing 254 member offices. The Board does not generate statistics or analysis of any individual member or company's market share. All MLS® active listings for Calgary and area may be found on the Board’s website at www.creb.com.

SINGLE FAMILY
2006
2005
2006 YTD
2005 YTD
%Change
Average Sale Price
376,725
273,953
353,829
271,587
30.28%
Listings
2,612
3,056
9,975
11,014
-9.43%
Sales
2,445
2,351
8,828
7,316
20.67%
Dollar Volume
921,091,899
644,063,714
3,123,600,477
1,986,927,646
57.21%
Sales to Listing Ratio
93.61%
76.93%
88.50%
66.43%
33.23%
Median Price
348,000
241,900
320,000
240,000
33.33%
 
CONDOMINIUM
 
 
 
 
 
Average Sale Price
256,455
183,541
229,876
180,704
27.21%
Listings
944
1,116
3,679
4,153
-11.39%
Sales
922
842
3,448
2,641
30.56%
Dollar Volume
236,451,606
154,541,767
792,611,020
477,237,049
66.08%
Sales to Listing Ratio
97.67%
75.45%
93.72%
63.61%
47.34%
Median Price
235,000
162,988
207,000
161,000
28.57%
 
MOBILE
 
 
 
 
 
Average Sale Price (incl. in Residential)
42,968
40,157
38,861
37,741
2.97%
Listings (incl. in Residential)
16
51
74
155
-52.26%
Sales (incl. in Residential)
22
14
57
47
21.28%
Dollar Volume (incl. in Residential)
945,300
562,200
2,215,088
1,773,846
24.87%
Sales to Listing Ratio (incl. in Residential)
137.50%
27.45%
77.03%
27.45%
180.60%
Median Price
40,000
35,000
38,500
29,900
28.76%
 
RURAL w/HOME
 
 
 
 
 
Average Sale Price
731,598
496,263
647,757
510,832
26.80%
Listings
136
191
557
717
-22.32%
Sales
138
110
391
304
28.62%
Dollar Volume
100,960,455
54,588,888
253,273,053
155,292,938
63.09%
Sales to Listing Ratio
101.47%
57.59%
70.20%
42.40%
65.56%
Median Price
625,000
424,000
560,000
440,000
27.27%
 
RURAL LAND
 
 
 
 
 
Average Sale Price
523,842
262,649
415,270
253,382
63.89%
Listings
42
34
154
86
79.07%
Sales
93
93
120
91
31.87%
Dollar Volume
22,001,349
8,930,050
63,951,612
21,790,831
193.48%
Sales to Listing Ratio
61.77%
51.52%
63.37%
35.98%
76.12%
Median Price
301,000
139,000
265,000
170,000
55.88%
 
RESIDENTIAL COMBINED (Single Family, Condo, Mobile)
 
 
 
 
 
Average Sale Price
341,838
249,195
317,719
246,495
28.89%
Listings
3,572
4,223
13,728
15,321
-10.40%
Sales
3,389
3,207
12,333
10,004
23.28%
Dollar Volume
1,158,488,805
799,167,681
3,918,426,585
2,465,939,551
58.90%
Sales to Listing Ratio
94.88%
75.94%
89.84%
65.30%
37.59%
Median Price
312,000
221,200
282,500
219,000
29.00%
 
TOTAL MLS®
 
 
 
 
 
Average Sale Price
359,050
257,442
328,906
254,284
29.35%
Listings
3,776
4,480
14,528
16,277
-10.75%
Sales
3,569
3,351
12,878
10,394
23.90%
Dollar Volume
1,281,450,609
862,686,619
4,125,651,250
2643,023,320
30.26%
Sales to Listing Ratio
94.52%
74.80%
88.64%
63.86%
38.81%
 

 

Average Calgary Real Estate Prices for last 13 months

Average Calgary Real Estate Yearly Prices for 1985 to 2006 YTD

 Calgary Real Estate Market data supplied by CREB

Recommend this April 2006 Calgary Real Estate Market Conditions page to a friend.

 
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1998 - 2013 All rights reserved worldwide. Privacy, Disclaimer.