Calgary Real Estate Board - Calgary MLS December 2007

MLS Sales Held Steady In 2007

MLS year end sales for residential and condominium held steady in 2007, showing very slight decreases in both categories, according to figures released by the Calgary Real Estate Board.

Year-to-date Calgary single family metro sales as of December 31, 2007 were 18,438 a decrease of 3.53% from the year-end 2006 sales of 19,113. Single family Calgary metro sales in December were 846 a decrease of 28.91% from the 1,190 sales recorded in December 2006.

Single family Calgary metro new listings added for the month of December totaled 984 a 1.55% increase over the 969 new listings added in December 2006. New listings coming to the market year-to-date were 31,722 an increase of 17.44% over the 27,011 new listings brought to market in 2006.

The median price of a single family Calgary metro home in December 2007 was $406,788 showing a 10.54% increase over December 2006 when the median price was $368,000. The year-to-date median price was $421,000 an increase of 16.62% from the 2006 year-to-date median price of $361,000. All Calgary Metro MLS Statistics include properties listed and sold only within Calgary's City Limits. The median price is the best price that is midway between the least expensive and the most expensive home sold in an area during a given period of time. During that time, half the buyers bought homes that cost more than the median price and half bought homes for less than the median price.

Calgary metro condominium new listings added in December 2007 were 468 showing an increase of 9.86% from the 426 new listings added in December 2006. Year-to-date new condominium listings added were 13,057 showing a 22.61% increase over the year-end listings, closing at 10,649 in 2006.

Calgary metro condominium sales in December 2007 were 393 a decrease of 26.27% from December 2006. At the end of 2007 8,236 condominiums had changed hands showing a decrease of 1.91% over the 8,396 condominium sales recorded at the end of 2006. Calgary condominium and single family metro sales in 2007 totaled 26,674 with condominiums at 30.9% of the total.

The year-to-date average price of a single family Calgary metro home in 2007 was $472,230 and the year-to-date average price of a metro condominium was $316,370.