Calgary Real Estate Board - Calgary MLS January 2008

MLS Resale Market Remains Balanced

Calgary MLS Sales and Listings for the month of January 2008, show a steady more stabilized market, according to figures released by the Calgary Real Estate Board.

Single family Calgary metro new listings added for the month of January totaled 3,023 an increase of 30.02% over the 2,325 new listings added in January 2007. Single family Calgary metro properties changing hands in January 2008 were 1,083 which is a decrease of 27.66% from the 1,497 recorded in January 2007 and an increase of 28.01% over the 846 sales recorded in December.

The median price of a single family Calgary metro home in January 2008 was $410,000 showing a 7.89% increase over January 2007 when the median price was $380,000 and showing a 0.8% increase from December when the median price was $406,788. 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 January 2008 were 1,406 showing a increase of 40.04% from the 1,004 new condominium listings added in January 2007.

Calgary metro condominium sales in January 2008 were 454, a decrease of 38.32% from January 2007 when 736 condominiums changed hands and a 15.52% increase from the 393 condominium sales recorded in December.

The average price of a single family Calgary metro home in January 2008 was $455,297 showing a 2.37% increase over December 2007 when the average price was $444,769. The average price of a metro condominium was $311,232 showing a 2.14% increase over December 2007 when the average price was $304,719.