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Calgary Real Estate Market Overview

MLS® SALES REMAIN STRONG AS THE END OF SUMMER APPROACHES

Calgary, September 4, 2006 – MLS® sales remained almost on par with July, but dropped significantly from last year's record breaking August sales numbers, according to figures released by the Calgary Real Estate Board (CREB®).

August combined residential sales totaled 2,516, showing a 9.46 per cent decrease over August 2005 when the sales were recorded as 2,779 and showing just a slight decrease of 2.71 per cent from last month’s sales of 2,586. The following shows the breakdown of the August combined sales; 1,684 single-family residences, 812 condominium, and 20 mobile homes. August 2005 sales in the same categories were, 1,953, 814, and 12, respectively.

The average combined residential sale price for August 2006 was $365,732, showing a 49.61 per cent increase over August 2005, when the average price was $244,456, and a 2.21 per cent increase over July 2006’s average price of $357,831. Broken out, the following is a comparison of single-family, condominium, and mobile home average sale prices for the month of July 2006 over 2005: single-family $412,331 / $272,438; condominium $276,536 / $180,339; and mobile home $63,415 / $39,516.

August 2006 residential combined listings totaled 4,271. This is a 28.72 per cent increase over August 2005, when 3,318 listings came to market and showing a 4.43 per cent decrease over the 4,469 homes listed in July.

Condominium sales remained steady with 812 units changing hands. Sales for condominiums for the same period last year were 814 showing a very slight decrease of just 0.25 per cent. The average condominium price in August 2006 was $276,536, the highest August recorded on the MLS®, compared to the $180,339 in August 2005 and showing a 53.34 per cent increase and a 1.8 per cent increase over the July average price of $271,641.

"August has been an interesting month for the MLS® with various opinions as to if and how much, the market may be cooling off. The theories behind the opinions are equally varied but include construction completions and typical seasonal slow-downs. Whatever the reasons, the most important thing is still to remember to prepare and price one’s property competitively. Your REALTOR® is the best person to look to for help in showing off the features of your property, and for accurate pricing within a given market,” says CREB® President Kevin Clark. "Often times we hear of sellers who are frustrated at how long their property has been on the market; this is commonly either because of presentation or pricing. It is very important to look to your REALTOR® throughout the listing period, for up-to-date and sound advice."

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 August 2006 was $328,000; up 49.43 per cent from August 2005, when the median price was $219,500 and down 0.61 per cent from the median price in July of $330,000.

The Calgary Real Estate Board is a professional body of 5,375 licensed brokers and registered agents, representing 258 Member offices.

 

SINGLE FAMILY
2006
2005
2006 YTD
2005 YTD
%Change
Average Sale Price
412,331
272,438
378,383
272,761
38.72%
Listings
3,123
1,953
22,571
21,371
5.62%
Sales
1,684
1,953
17,097
15,703
8.88%
Dollar Volume
694,365,252
532,071,833
6,459,210,923
4,283,162,354
51.04%
Sales to Listing Ratio
53.92%
83.57%
75.75%
73.48%
3.09%
Median Price
370,000
248,000
345,000
243,000
41.98%
 
CONDOMINIUM
 
 
 
 
 
Average Sale Price
276,536
180,339
252,253
181,333
39.11%
Listings
1,131
953
8,409
7,993
5.20%
Sales
812
814
7,070
5,969
18.45%
Dollar Volume
224,549,591
146,795,997
1,783,431,948
1,082,374,909
39.11%
Sales to Listing Ratio
71.80%
85.41%
84.08%
74.68%
12.59%
Median Price
258,000
160,500
235,000
162,000
45.06%
 
MOBILE
 
 
 
 
 
Average Sale Price (incl. in Residential)
63,415
39,516
47,223
39,033
20.98%
Listings (incl. in Residential)
17
28
174
256
-34.37%
Sales (incl. in Residential)
20
12
153
108
41.67%
Dollar Volume (incl. in Residential)
1,268,300
474,194
7,225,188
4,215,590
71.39%
Sales to Listing Ratio (incl. in Residential)
117.65%
42.86%
87.93%
42.86%
105.17%
Median Price
50,000
45,000
42,000
35,000
20.00%
 
RURAL w/HOME
 
 
 
 
 
Average Sale Price
657,872
497,486
679,702
501,311
35.58%
Listings
176
158
1,322
1,373
-3.71%
Sales
78
99
800
707
13.15%
Dollar Volume
51,314,050
49,251,096
543,761,891
354,427,094
33.17%
Sales to Listing Ratio
44.32%
62.66%
60.51%
51.49%
17.52%
Median Price
565,000
420,000
585,000
439,300
33.17%
 
RURAL LAND
 
 
 
 
 
Average Sale Price
979,681
272,177
506,906
304,321
66.57%
Listings
63
55
548
468
17.09%
Sales
26
35
327
221
47.96%
Dollar Volume
25,471,702
9,526,200
165,758,381
37,254,869
146.46%
Sales to Listing Ratio
41.27%
63.64%
59.67%
47.22%
26.36%
Median Price
366,654
191,000
290,000
189,000
53.44%
 
RESIDENTIAL COMBINED (Single Family, Condo, Mobile)
 
 
 
 
 
Average Sale Price
365,732
244,456
339,633
246,545
37.76%
Listings
4,271
3,318
31,154
26,629
5.15%
Sales
2,516
2,779
24,320
21,780
11.66%
Dollar Volume
920,181,123
679,342,024
8,259,868,059
5,369,752,853
53.82%
Sales to Listing Ratio
58.91%
83.76%
78.06%
73.51%
6.20%
Median Price
328,000
219,500
308,000
220,000
40.00%
 
TOTAL MLS®
 
 
 
 
 
Average Sale Price
380,522
253,388
352,473
255,039
38.20%
Listings
4,510
3,531
33,024
31,470
4.94%
Sales
2,620
2,913
24,447
22,708
12.06%
Dollar Volume
996,996,875
738,119,320
8,969,388,331
5,791,434,816
54.87%
Sales to Listing Ratio
58.09%
82.50%
77.06%
72.16%
6.79%
 

 

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 Calgary Real Estate Market Conditions page to a friend.

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