Calgary Real Estate Board - Calgary MLS® June 2008

Market Remains Steady During the Month of June

Calgary's MLS® market remains steady with a slight increase in metro single family and condominium sales over last month, which may indicate that more homes are being priced to fit the current market conditions.

Single family Calgary metro new listings added for the month of June totaled 2,787 a decrease of 15.9% from June 2007 when new listings added totaled 3,313 and an decrease of 18.8% from last month when new listings coming to the market were 3,432.

Calgary metro condominium new listings added in June 2008 were 1,234 showing a decrease of 1.5% from the 1,253 condominium listings added in June 2007 and an decrease of 19.8% from last month's condominium listings of 1,538.

Single family Calgary metro sales for the month of June came in at 1,439 showing a decrease of 18.1% from the 1,757 sales in June 2007 and showing an increase of 5.2% from last month's sales of 1,368.

Calgary metro condominium sales in June 2008 were 556, a decrease of 29.8% from the 792 condominium sales recorded in June 2007 and showing a slight decrease of 3.6% from the 577 condominium sales in May 2008.

At this mid-point in the year, Calgary metro single family new listings added year-to-date were 19,086 which is an increase of 7.7%from the 17,723 new listings added during the first half of 2007. Condominium new listings added were 8,473 an increase of 23.1% over the 6,884 new condominium listings added at the mid-point of 2007.

Sales year-to-date for single family Calgary metro were 7,902 which is a decrease of 31.4% from the 11,526 sales in 2007. Calgary metro condominiums changing hands during the first half of 2008 totaled 3,286 a decrease of 36.4% over the 5,170 sales in 2007.

The median price of a single family Calgary metro home in June 2008 was $408,000 showing a decrease of 7.1% over June 2007 when the median price was $439,000 and showing a decrease of 2.6% from last month when the median price was $419,000.

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 Calgary metro home in June 2008 was $473,774 showing a decrease of 4.7% from June 2007 when the average price was $496,890. The average price of a metro Calgary condominium was $315,042 showing a 2.5% decrease from June 2007 when the average price was $323,269. 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 5,767 licensed brokers and registered associates, representing 262 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.

Jim English

Your Calgary Real Estate Specialist
For All Your Calgary Real Estate Needs



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