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Calgary Real Estate Market Overview

JUNE NUMBERS RESPOND TO PREDICTABLE SEASONAL CHANGES

Calgary, July 4, 2006 – MLS® sales continued to show a steady and strong pace in the month of June, while new listings hit an all time high, according to figures released by the Calgary Real Estate Board.

June combined residential sales totaled 3,388, the highest June on record, showing an 8.59 per cent increase over June 2005 when the sales were recorded as 3,120 and showing a decrease of 4.56 per cent from last months high of 3,550. The breakdown of the June combined sales was, 2,354 single-family residences, 1,011 condominium, and 23 mobile homes. June 2005 sales in the same categories were, 2,228; 880; and 12, respectively.

The average combined residential sale price for June 2006 was $367,033, the highest sale price on MLS® record, showing a 49.32 per cent increase over June 2005, when the average price was $245,809, and a 2.46 per cent increase over May 2006’s average price of $358,214. Broken out, the following is a comparison of single-family, condominium, and mobile home average sale prices for the month of June 2006 over 2005: single-family $408,771 / $270,905; condominium $276,955 / $185,149; and mobile home $54,861 / $34,817.

June 2006 residential combined listings totaled 4,555, the highest ever in MLS® history. This is a 24.76 per cent increase from June 2005, when 3,651 listings came to market and showing a 10.10 per cent increase over the 4,137 homes listed in May.

Condominium sales also kept a steady pace with 1,011 sales changing hands. Sales for condominiums for the same period last year were 880 showing a 14.89 per cent increase. The average condominium price in June 2006 was $276,955, the highest ever in MLS® history, compared to the $185,149 in June 2005; a 49.58 per cent increase and a 2.25 per cent increase over the May average price of $270,861.

“We knew unit sales per week would peak sometime before summer; now we know it occurred in the first week of June” reported CREB® President, Kevin Clark. He went on to say that Calgary REALTORS® are still very busy with both Buyers and Sellers seeking their advice on current trends. “The next couple of months may prove to offer the best selection of the year with more listings and a few less buyers; the fall market? – it’s still unpredictable.”

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 June 2006 was $334,500; up 52.06 per cent from June 2005, when the median price was $220,000 and up 2.92 per cent from the median price in May of $325,000.

The Calgary Real Estate Board is a professional body of 5,297 licensed brokers and registered agents, representing 259 Member offices.

SINGLE FAMILY
2006
2005
2006 YTD
2005 YTD
%Change
Average Sale Price
408,771
270,905
370,950
272,713
36.02%
Listings
3,281
2,667
16,243
16,750
-3.03%
Sales
2,354
2,228
13,699
11,829
15.81%
Dollar Volume
962,246,141
603,576,656
5,081,647,544
3,225,921,566
57.53%
Sales to Listing Ratio
71.75%
83.54%
84.34%
70.62%
19.42%
Median Price
375,000
242,000
336,900
241,700
39.39%
 
CONDOMINIUM
 
 
 
 
 
Average Sale Price
276,955
185,149
245,946
181,376
35.60%
Listings
1,243
959
6,043
6,184
-2.28%
Sales
1,011
880
5,441
4,370
24.51%
Dollar Volume
280,001,377
162,930,994
1,338,191,474
792,613,933
68.83%
Sales to Listing Ratio
81.34%
91.76%
90.04%
70.67%
27.41%
Median Price
255,000
162,000
227,000
162,000
40.12%
 
MOBILE
 
 
 
 
 
Average Sale Price (incl. in Residential)
54.861
34,817
42,975
36,766
16.89%
Listings (incl. in Residential)
31
25
132
215
-38.60%
Sales (incl. in Residential)
23
12
109
83
31.33%
Dollar Volume (incl. in Residential)
1,261,800
417,800
4,684,288
3,051,596
53.50%
Sales to Listing Ratio (incl. in Residential)
74.19%
48.00%
82.58%
48.00%
72.03%
Median Price
58,300
30,000
39,000
31,000
25.81%
 
RURAL w/HOME
 
 
 
 
 
Average Sale Price
704,891
511,889
686,529
506,641
35.51%
Listings
201
144
958
1,040
-7.88%
Sales
113
99
635
502
26.49%
Dollar Volume
79,542,730
50,667,000
435,946,146
253,333,624
71.41%
Sales to Listing Ratio
56.22%
68.75%
66.28%
48.27%
37.32%
Median Price
580,000
447,900
585,000
440,000
32.95%
 
RURAL LAND
 
 
 
 
 
Average Sale Price
451,305
343,588
439,670
292,543
55.06%
Listings
109
44
428
356
20.22%
Sales
42
39
249
156
59.62%
Dollar Volume
18,954,800
13,399,938
109,477,788
44,232,669
147.50%
Sales to Listing Ratio
38.53%
88.64%
58.18%
43.82%
32.77%
Median Price
325,000
210,000
271,000
178,000
53.71%
 
RESIDENTIAL COMBINED (Single Family, Condo, Mobile)
 
 
 
 
 
Average Sale Price
367,033
245,809
333,759
246,996
35.13%
Listings
4,555
3,651
22,418
23,149
-3.16%
Sales
3,388
3,120
19,249
16,282
18.22%
Dollar Volume
1,246,509,318
766,925,450
6,242,523,306
4,021,587,095
59.75%
Sales to Listing Ratio
74.38%
85.46%
85.86%
70.34%
22.08%
Median Price
334,500
222,000
300,000
220,000
36.36%
 
TOTAL MLS®
 
 
 
 
 
Average Sale Price
378,808
255,065
346,195
255,027
35.75%
Listings
4,865
3,839
23,804
24,545
-3.02%
Sales
3,543
3,258
20,133
16,940
18.85%
Dollar Volume
1,342,116,848
831,002,388
6,969,947,240
4,320,153,388
61.34%
Sales to Listing Ratio
72.83%
84.87%
84.58%
69.04%
22.55%
 

 

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

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