|
Calgary Real Estate Board -
Calgary MLS®
May 2008
Buyers Need To Pay
Attention - Homes Are On Sale Today
"Now is not the time
to wait until the sale is over and then decide to buy; after you
read a headline, the best time to buy has passed," cautioned CREB®
President, Ed Jensen. Home inventories are high; buyers are
reaping the benefits of selection and are able to negotiate the
best price and terms. Today's Market presents buyers with great
purchasing opportunities, according to information
released by the Calgary Real Estate Board.
Single family Calgary
metro new listings added for the month of May totaled 3,432 a decrease
of 6% from May 2007 when new listings added totaled 3,652 and
an increase of 1.6% from last month when new listings coming to
the market were 3,377.
Calgary metro
condominium new listings added in May 2008 were 1,538 showing a
increase of 15.5% from the 1,332 condominium listings added in May 2007 and an
increase of 3.0% from the 1,493 condominium
listings brought to market last month.
Single family Calgary
metro sales for the month of May came in at 1,368 showing a
decrease of 31.4% from the 1,995 sales recorded in May 2007 and showing an
increase of 0.4% from last month's sales of 1,363.
Calgary metro condominium sales in May 2008 were 577, a decrease of
35% from the 887 condominium sales recorded in May 2007 and
showing a slight decrease
of just 0.7% from the 581 condominium sales in April
2008.
"The conditions
today are perfect for buyers. We have a surplus of homes on the
market, there are many great mortgage products available to fit
the needs of every buyer, and interest rates have never been
better," remarked CREB® President, Ed Jensen. "Some buyers are
waiting and trying to time the next market shift, which is almost
impossible to do, a crystal ball is not a great forecasting tool.
New listing numbers dropped slightly in May, sales remain steady
and our economy remains very solid. Buying real estate is the best
long term investment available to us as consumers; maybe today is
the day to make a buying decision. A professional REALTOR®
understands what is going on in the market and can help the buyer
make an informed buying decision" Jensen concluded.
The median price of a
single family Calgary metro home in May 2008 was $419,000
showing a decrease of 3.7% over May 2007 when the median price was
$435,000 and showing a decrease of just 0.2% from last month when the median
price was also $420,000.
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 May 2008 was $479,564 showing
a very slight decrease of 1.6% from May 2007 when the average price
was $487,523. The average price of a metro condominium was
$311,816 showing a 6.2% decrease from May 2007 when the average
price was $332,237. 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 5,752 licensed brokers and
registered associates, representing 261 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):
|
May |
2008 |
2007 |
% |
|
Month End Inventory |
7,099 |
1,450 |
389.59 |
|
New Listings Added |
3,432 |
3,652 |
-6.02 |
|
Sales |
1,368 |
1,995 |
-31.43 |
|
Average Sale Price |
479,564 |
487,523 |
-1.63 |
|
Median Price |
419,000 |
435,000 |
-3.68 |
|
Sales $ / List $ % |
96.85 |
98.31 |
-1.49 |
Calgary Condominiums (Calgary
Metro):
|
May |
2008 |
2007 |
% |
|
Month End Inventory |
3,308 |
1,173 |
182.01 |
|
New Listings Added |
1,538 |
1,332 |
15.47 |
|
Sales |
577 |
887 |
-34.95 |
|
Average Sale Price |
311,816 |
332,237 |
-6.15 |
|
Median Price |
285,000 |
308,000 |
-7.47 |
|
Sales $ / List $ % |
96.94 |
98.55 |
-1.63 |
Calgary Towns (Outside Calgary):
|
May |
2008 |
2007 |
% |
|
Month End Inventory |
2,971 |
1,280 |
132.11 |
|
New Listings Added |
1,081 |
974 |
10.99 |
|
Sales |
402 |
589 |
-31.75 |
|
Average Sale Price |
375,831 |
394,217 |
-4.66 |
|
Median Price |
347,500 |
355,000 |
-2.11 |
|
Sales $ / List $ % |
95.87 |
98.21 |
-2.38 |
Calgary Country Residential
(Acreages):
|
May |
2008 |
2007 |
% |
|
Month End Inventory |
954 |
548 |
74.09 |
|
New Listings Added |
275 |
230 |
19.57 |
|
Sales |
69 |
88 |
-21.59 |
|
Average Sale Price |
941,086 |
841,983 |
11.77 |
|
Median Price |
855,000 |
780,000 |
9.62 |
|
Sales $ / List $ % |
95.44 |
96.36 |
-0.95 |
Calgary Rural Land:
|
May |
2008 |
2007 |
% |
|
Month End Inventory |
545 |
299 |
82.27 |
|
New Listings Added |
133 |
120 |
10.83 |
|
Sales |
28 |
48 |
-41.67 |
|
Average Sale Price |
411,121 |
587,599 |
-30.03 |
|
Median Price |
390,000 |
372,500 |
4.70 |
|
Sales $ / List $ % |
92.88 |
92.45 |
0.47 |
Total Calgary MLS*:
|
May |
2008 |
2007 |
% |
|
Month End Inventory |
14,960 |
7,065 |
111.75 |
|
New Listings Added |
6,494 |
6,351 |
2.25 |
|
Sales |
2,455 |
3,633 |
-32.42 |
|
Average Sale Price |
433,470 |
441,386 |
-1.79 |
|
Median Price |
381,000 |
392,000 |
-2.81 |
|
Sales $ / List $ % |
96.58 |
98.13 |
-1.58 |
* Total MLS includes Mobile
Listings
Calgary, Alberta, Canada - May
2008
| Return To
Calgary Real Estate Market News Main Page |
The Information Provided
on this Web Site is Believed Reliable But Not Guaranteed.
The Real Estate Company Ltd, Jim English, nor their Service
Providers are Liable
for Any Errors or Inaccuracies Contained or Provided Through this Web
Site.
Interested Parties are Encouraged to Seek Independent
Verification of the Information Presented. |
