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
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.
Calgary Real Estate Market data supplied by CREB
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