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Calgary
Real Estate Market News August 2001
Best
July Sales Ever!
Lower
interest rates are paving the way to record sales with some
lenders offering 5 year terms for 6.5% closed.
Year
to date residential sales were 13,473 in 2001, compared to 12,272
in 2000, an increase of 9.8%. Residential sales reached 1,986 this
July, up by 15% over last July. In fact, July 2001 marked the
highest number of residential sales ever sold in the month of
July.
The
average combined residential sale price in July was $183,630
breaking out the single family and condominiums. The average sale
price for single family dwellings was $194,808 and $140,923 for
condominiums. A
key indicator of the market has always been the length of time it
takes to sell a property which is averaging 62 days for single
family homes.
Lower
interest rates and a booming oil economy are all contributing
factors to a very strong housing market.
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