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Calgary Real Estate Market Overview

MAY SETS A NEW RECORD WITH NUMBER OF MLS® SALES

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

May combined residential sales totaled 3,550, the highest May on record, showing a 12.38 per cent increase over May 2005 when the sales were recorded as 3,159 and showing a very slight increase of 4.75 per cent from last months high of 3,389. The breakdown of the May combined sales was, 2,519 single-family residences, 1,001 condominium, and 30 mobile homes. May 2005 sales in the same categories were, 2,274; 861; and 24, respectively.

The average combined residential sale price for May 2006 was $358,214, the highest sale price on MLS® record, showing a 43.45 per cent increase over May 2005, when the average price was $249,719, and a 4.79 per cent increase over April 2006’s average price of $341,838. Broken out, the following is a comparison of single-family, condominium, and mobile home average sale prices for the month of May 2006 over 2005: single-family $396,694 / $277,807; condominium $270,861 / $181,495; and mobile home $41,880 / $35,831.

May 2006 residential combined listings totaled 4,137, a 1 per cent decrease from May 2005, when 4,178 listings came to market and showing a 15.82 per cent increase over the 3,572 homes listed in April.

Condominium sales also kept a steady pace with 1,001 sales changing hands. Sales for condominiums for the same period last year were 861 showing a 16.26 per cent increase. The average condominium price in May 2006 was $270,861, the highest ever in MLS® history, compared to the $181,495 in May 2005; a 49.24 per cent increase and an 5.62 per cent increase over the April average price of $256,455.

“The Calgary and regional real estate market continues to unfold with numbers predictable to the strong economic climate”, reported CREB® President, Kevin Clark. “With the summer market soon upon us we would anticipate a softening of unit numbers in the weeks ahead, but the prices to remain on a positive trajectory. Look to your REALTOR for the most comprehensive analysis of where the best opportunities can be found”.

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 May 2006 was $325,000; up 46.40 per cent from May 2005, when the median price was $222,000 and up 4.17 per cent from the median price
in April of $312,000.

The Calgary Real Estate Board is a professional body of 5,270 licensed brokers and registered agents, representing 257 member offices. The Board does not generate statistics or analysis of any individual member or company's market share.

SINGLE FAMILY
2006
2005
2006 YTD
2005 YTD
%Change
Average Sale Price
396,694
277,807
363,074
273,086
32.95%
Listings
2,982
3,053
12,957
14,076
-7.95%
Sales
2,519
2,274
11,344
9,596
18.22%
Dollar Volume
999,271,508
631,733,752
4,118,709,751
2,620,533,551
57.17%
Sales to Listing Ratio
84.47%
74.48%
87.55%
68.17%
28.42%
Median Price
361,500
245,000
329,500
214,500
36.44%
 
CONDOMINIUM
 
 
 
 
 
Average Sale Price
270,861
181,495
239,058
180,685
32.31%
Listings
1,128
1,090
4,805
5,232
-8.16%
Sales
1,001
864
4,438
3,495
29.98%
Dollar Volume
271,131,845
156,267,392
1,060,937,749
631,494,298
68.00%
Sales to Listing Ratio
88.74%
78.99%
92.36%
66.80%
38.27%
Median Price
253,000
165,000
218,000
162,000
34.57%
 
MOBILE
 
 
 
 
 
Average Sale Price (incl. in Residential)
41,880
35,831
39,902
37,096
7.57%
Listings (incl. in Residential)
27
35
101
190
-46.84%
Sales (incl. in Residential)
30
24
87
71
22.54%
Dollar Volume (incl. in Residential)
1,256,400
859,950
3,471,488
2,633,796
31.81%
Sales to Listing Ratio (incl. in Residential)
111.11%
68.57%
86.14%
68.57%
25.62%
Median Price
39,000
33,000
39,000
31,000
25.81%
 
RURAL w/HOME
 
 
 
 
 
Average Sale Price
786,477
488,522
682,554
505,351
35.07%
Listings
199
179
756
896
-15.63%
Sales
131
99
522
403
29.53%
Dollar Volume
103,028,533
48,363,686
356,293,416
203,656,624
74.95%
Sales to Listing Ratio
65.83%
55.31%
69.05%
44.98%
53.52%
Median Price
665,000
440,000
585,000
440,000
32.95%
 
RURAL LAND
 
 
 
 
 
Average Sale Price
499,709
291,674
437,309
263,528
65.94%
Listings
77
73
320
312
2.56%
Sales
54
31
207
117
76.92%
Dollar Volume
26,984,276
9,041,900
90,522,988
30,832,731
193.59%
Sales to Listing Ratio
70.13%
42.47%
64.69%
37.50%
72.50%
Median Price
270,900
172,000
269,000
175,000
53.71%
 
RESIDENTIAL COMBINED (Single Family, Condo, Mobile)
 
 
 
 
 
Average Sale Price
358,214
249,719
326,619
247,277
32.09%
Listings
4,137
4,178
17,863
19,498
-8.39%
Sales
3,550
3,159
15,869
13,162
20.57%
Dollar Volume
1,271,659,753
788,861,094
5,183,118,988
3,254,661,645
59.25%
Sales to Listing Ratio
85.81%
75.61%
88.84%
67.50%
31.60%
Median Price
325,000
222,000
292,000
220,000
32.73%
 
TOTAL MLS®
 
 
 
 
 
Average Sale Price
375,280
257,302
339,194
255,018
33.01%
Listings
4,413
4,430
18,939
20,706
-8.53%
Sales
3,735
3,289
16,598
13,682
21.31%
Dollar Volume
1,401,672,562
846,266,680
5,629,935,392
3,489,151,000
61.36%
Sales to Listing Ratio
84.64%
74.25%
87.64%
66.08%
32.63%
 

 

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 May 2006 Calgary Real Estate Market Conditions page to a friend.

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