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.
Calgary Real Estate Market data supplied by CREB
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