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Calgary Real Estate Market Overview

FEBRUARY CONTINUES TO DEMONSTRATE A COMPETITIVE MARKET

Calgary, March 1, 2006 – Another strong month for MLS® sales for the month of February 2006 was recorded, according to figures released by the Calgary Real Estate Board.

February combined residential sales totaled 3,060, a 37.7 per cent increase over February 2005’s sales of 2,223, and a 27.1 per cent increase over January 2006’s sales of 2,408. The breakdown of the February combined sales was, 2,149 single-family residences, 905 condominium, and 6 mobile homes. February 2005 sales in the same categories were, 1,631; 584; and 8, respectively.

The average combined residential sale price for February 2006 was $304,560 a 26 per cent increase over February 2005, when the average price was $241,753, and a 5.3 per cent increase over January 2006’s average price of $289,130. Broken out, the following is a comparison of single-family, condominium, and mobile home average sale prices for the month of February 2006 over 2005: single-family $342,104 / $265,316; condominium $217,181 / $178,730; and mobile home $37,417 / $38,350.

Condominium sales in February picked up some more momentum and reached 905 sales compared to the 584 sales recorded in February 2005. This is a 55 per cent increase. The average condominium price in February 2006 was $217,181 compared to the $178,730 in February 2005; a 21.5 per cent increase.

February 2006 residential combined listings totaled 3,230, a 6.8 per cent decrease over February 2005’s listings of 3,464, however, showing a 8.4 per cent increase over last month’s 2,981 listings.

“The February real estate market continued to demonstrate the power of an open and competitive market; supplies remain limited and demand high resulting in increased prices and fast sales in many communities” explained CREB® President, Kevin Clark. “Despite the opportunity for many, we are not reading about the losers; if one chooses not to sell competitively or one buys without assistance the market can cost you a lot of money.”

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 for February 2006 was $267,900; up 24.6 per cent from February 2005, when the median price was $215,000 and up 5.1 per cent from last month’s median of $254,900.

The Calgary Real Estate Board is a professional body of 5,134 licensed brokers and registered agents, representing 256 member offices.

SINGLE FAMILY
2006
2005
2006 YTD
2005 YTD
%Change
Average Sale Price
342,104
265,316
333,490
265,570
25.58%
Listings
2,336
2,527
4,471
4,922
-9.16%
Sales
2,149
1,631
3,907
2,802
39.44%
Dollar Volume
735,180,728
432,730,989
1,302,945,217
744,127,754
75.10%
Sales to Listing Ratio
92.00%
64.54%
87.39%
56.93%
53.50%
Median Price
306,000
235,000
298,000
235,000
26.81%
 
CONDOMINIUM
 
 
 
 
 
Average Sale Price
217,181
178,730
210,998
178,086
18.48%
Listings
875
907
1,706
1,945
-12.29%
Sales
905
584
1,536
1,013
51.63%
Dollar Volume
196,548,584
104,378,530
324,093,307
180,401,371
79.65%
Sales to Listing Ratio
103.43%
64.39%
90.04%
52.08%
72.87%
Median Price
193,500
160,000
185,500
160,000
15.94%
 
MOBILE
 
 
 
 
 
Average Sale Price (incl. in Residential)
37,417
38,350
34,169
33,871
0.88%
Listings (incl. in Residential)
19
30
33
68
-51.47%
Sales (incl. in Residential)
6
8
20
20
0.00%
Dollar Volume (incl. in Residential)
224,500
306,800
683,388
677,420
0.88%
Sales to Listing Ratio (incl. in Residential)
31.58%
26.67%
60.61%
26.67%
127.27%
Median Price
39,000
35,000
35,000
29,900
17.06%
 
RURAL w/HOME
 
 
 
 
 
Average Sale Price
696,867
485,744
641,851
514,330
24.79%
Listings
138
161
275
347
-20.75%
Sales
83
59
138
103
33.98%
Dollar Volume
57,839,960
28,658,900
88,575,405
52,976,000
67.20%
Sales to Listing Ratio
60.15%
36.65%
50.18%
29.68%
69.06%
Median Price
546,000
420,000
515,000
444,000
15.99%
 
RURAL LAND
 
 
 
 
 
Average Sale Price
381,209
242,140
406,181
244,451
66.16%
Listings
56
56
117
104
12.50%
Sales
43
7
69
23
200.00%
Dollar Volume
16,392,000
1,694,981
28,026,488
5,622,381
398.48%
Sales to Listing Ratio
76.79%
12.50%
58.97%
22.12%
166.67%
Median Price
270,000
159,900
275,000
195,000
41.03%
 
RESIDENTIAL COMBINED (Single Family, Condo, Mobile)
 
 
 
 
 
Average Sale Price
304,560
241,753
297,954
241,253
23.50%
Listings
3,230
3,464
6,210
6,935
-10.45%
Sales
3,060
2,223
5,463
3,835
42.45%
Dollar Volume
931,953,812
537,416,319
1,627,721,912
925,206,545
75.93%
Sales to Listing Ratio
94.74%
64.17%
87.97%
55.30%
59.08%
Median Price
267,900
215,000
262,500
215,000
22.09%
 
TOTAL MLS®
 
 
 
 
 
Average Sale Price
315,815
248,043
307,641
248,373
23.86%
Listings
3,424
3,681
6,602
7,386
-10.61%
Sales
3,186
2,289
5,670
3,961
43.15%
Dollar Volume
1,006,185,772
567,770,200
1,744,323,805
983,804,926
77.30%
Sales to Listing Ratio
93.05%
62.18%
85.88%
53.63%
60.14%
 

 

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.