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Calgary Real Estate Board -
Calgary MLS®
July 2008
Summer Market Still
Favours Buyers: But For How Long?
Calgary's MLS® market
remains steady for the month of July and still presents great
opportunities for buyers according to figures released by the
Calgary Real Estate Board (CREB®).
Single family Calgary
metro new listings added for the month of July totaled 2,559 a
very slight increase
of 0.4% from July 2007 when new listings added totaled 2,548 and
a decrease of 8.2% from last month when new listings coming to the
market were 2,787.
Calgary metro
condominium new listings added in July 2008 were 1,183 showing an
increase of 5.9% from the 1,117 condominium listings added in July 2007 and an
decrease of 4.1% from last month's condominium listings of 1,234.
Single family Calgary
metro sales for the month of July came in at 1,313 showing a
decrease of 12.2% from the 1,495 sales in July 2007 and showing a
decrease of 8.8% from last month's sales of 1,439.
Calgary metro condominium sales in July 2008 were 535, a decrease of
11.3% from the 603 condominium sales recorded in July 2007 and
showing a slight decrease
of 3.8% from the 556 condominium sales in June
2008.
The median price of a
single family Calgary metro home in July 2008 was $408,500
showing a decrease of 6.1% over July 2007 when the median price was
$435,000 and down just $500 from last month when the median
price was $408,000.
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.
The average price of a
single family metro Calgary home in July 2008 was $456,380 showing
a decrease of 9.8% from July 2007 when the average price
was $505,920. The average price of a metro Calgary condominium was
$296,338 showing a 7.0% decrease from July 2007 when the average
price was $318,582. 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 Calgary Real
Estate Board is a professional body of 5,803 licensed brokers and
registered associates, representing 265 Member offices. The Board
does not generate statistics or analysis of any individual member
or company's market share. All MLS® active listings for Calgary
and area may be found on the Board's website at
www.creb.com.
Calgary Single
Family (Calgary Metro):
|
July |
2008 |
2007 |
% |
|
Month End Inventory |
6,038 |
4,510 |
33.88 |
|
New Listings Added |
2,559 |
2,548 |
0.43 |
|
Sales |
1,313 |
1,495 |
-12.17 |
|
Average Sale Price |
456,380 |
505,920 |
-9.79 |
|
Median Price |
408,500 |
435,000 |
-6.09 |
|
Sales $ / List $ % |
96.49 |
97.20 |
-0.73 |
Calgary Condominiums (Calgary
Metro):
|
July |
2008 |
2007 |
% |
|
Month End Inventory |
2,888 |
1,634 |
76.74 |
|
New Listings Added |
1,183 |
1,117 |
5.91 |
|
Sales |
535 |
603 |
-11.28 |
|
Average Sale Price |
296,338 |
318,582 |
-6.98 |
|
Median Price |
273,500 |
297,900 |
-8.19 |
|
Sales $ / List $ % |
96.45 |
97.69 |
-1.26 |
Calgary Towns (Outside Calgary):
|
July |
2008 |
2007 |
% |
|
Month End Inventory |
2,924 |
1,650 |
77.21 |
|
New Listings Added |
915 |
773 |
18.37 |
|
Sales |
379 |
453 |
-16.34 |
|
Average Sale Price |
382,120 |
396,537 |
-3.64 |
|
Median Price |
355,000 |
363,500 |
-2.34 |
|
Sales $ / List $ % |
96.24 |
97.64 |
-1.44 |
Calgary Country Residential
(Acreages):
|
July |
2008 |
2007 |
% |
|
Month End Inventory |
1,047 |
720 |
45.42 |
|
New Listings Added |
258 |
216 |
19.44 |
|
Sales |
72 |
63 |
14.29 |
|
Average Sale Price |
746,846 |
842,563 |
-11.36 |
|
Median Price |
719,000 |
680,000 |
5.74 |
|
Sales $ / List $ % |
94.40 |
96.60 |
-2.28 |
Calgary Rural Land:
|
July |
2008 |
2007 |
% |
|
Month End Inventory |
570 |
406 |
40.39 |
|
New Listings Added |
109 |
84 |
29.76 |
|
Sales |
20 |
31 |
-35.48 |
|
Average Sale Price |
443,155 |
449,382 |
-1.39 |
|
Median Price |
315,000 |
400,000 |
-21.25 |
|
Sales $ / List $ % |
91.48 |
97.77 |
-6.43 |
Total Calgary MLS*:
|
July |
2008 |
2007 |
% |
|
Month End Inventory |
13,551 |
8,972 |
51.04 |
|
New Listings Added |
5,049 |
4,776 |
5.72 |
|
Sales |
2,336 |
2,677 |
-12.74 |
|
Average Sale Price |
413,738 |
447,271 |
-7.50 |
|
Median Price |
370,000 |
392,000 |
-5.61 |
|
Sales $ / List $ % |
96.28 |
97.32 |
-1.07 |
* Total MLS includes Mobile
Listings
Calgary, Alberta, Canada - July
2008
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