Calgary Real Estate
Calgary MLS News February 2008
 

 

Calgary Real Estate Board - Calgary MLS February 2008

MLS Resale Market Picks Up Momentum in February

Calgary MLS Sales for the month of February 2008, show signs of increased market pace, according to figures released by the Calgary Real Estate Board.

Single family Calgary metro new listings added for the month of February totaled 2,981 a decrease of 1.4% over the 3,023 new listings added in January and an increase of 35.1% over the 2,206 new listings added in February 2007.

Single family Calgary metro properties changing hands in February 2008 were 1,252 which is an increase of 15.6% over the 1,083 sales recorded in January 2008 but showing a decrease of 35.5% from the same period last year, when the sales were 1,942.

The median price of a single family Calgary metro home in February 2008 was $428,000 showing a 4.9% increase over February 2007 when the median price was $408,000 and showing a 4.4% increase from last month when the median price was $410,000. 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 February 2008 were 1,244 showing a increase of 39.9% from the 889 new condominium listings added in February 2007. This is a 11.5% decrease from last month, when the new listings added were 1,406.

Calgary metro condominium sales in February 2008 were 562, a decrease of 37.2% from February 2007 when 895 condominiums changed hands and a 23.8% increase from the 454 condominium sales recorded in January 2008.

The average price of a single family Calgary metro home in February 2008 was $471,696 showing a 5.2% increase over February 2007 when the average price was $448,557. The average price of a metro condominium was $311,812 showing a 3.3% increase over February 2007 when the average price was $301,812.

Calgary Single Family (Calgary Metro):

February 2008 2007 %
Month End Inventory 4,985 2,032 n/a
New Listings Added 2,981 2,206 35.13
Sales 1,252 1,942 -35.53
Average Sale Price 471,696 448,557 5.16
Median Price 428,000 408,000 4.90
Sales $ / List $ % 97.44 98.48 -1.05

Calgary Condominiums (Calgary Metro):

February 2008 2007 %
Month End Inventory 2,301 654 n/a
New Listings Added 1,244 889 39.93
Sales 562 895 -37.21
Average Sale Price 311,812 301.812 3.31
Median Price 295,000 280,800 5.06
Sales $ / List $ % 97.35 98.64 -1.31

Calgary Towns (Outside Calgary):

February 2008 2007 %
Month End Inventory 2,214 935 n/a
New Listings Added 921 612 50.49
Sales 342 491 -30.35
Average Sale Price 382,545 354,882 7.80
Median Price 355,000 336,500 5.50
Sales $ / List $ % 97.29 98.24 -0.96

Calgary Country Residential (Acreages):

February 2008 2007 %
Month End Inventory 639 383 66.84
New Listings Added 228 148 54.05
Sales 57 64 -10.94
Average Sale Price 816,982 786,566 3.87
Median Price 769,000 689,900 11.47
Sales $ / List $ % 94.25 96.21 -2.04

Calgary Rural Land:

February 2008 2007 %
Month End Inventory 430 254 69.29
New Listings Added 110 63 74.60
Sales 17 24 -29.17
Average Sale Price 451,559 554,183 -18.52
Median Price 325,000 340,000 -4.41
Sales $ / List $ % 92.72 92.59 0.14

Total Calgary MLS*:

February 2008 2007 %
Month End Inventory 10,652 4,288 148.41
New Listings Added 5,520 3,942 40.03
Sales 2,236 3,434 -34.89
Average Sale Price 425,542 401,916 5.88
Median Price 385,000 365,000 5.48
Sales $ / List $ % 97.20 98.33 -1.15

* Total MLS includes Mobile Listings

Calgary, Alberta, Canada - February 2008

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