Calgary Real Estate Board - Calgary MLS October 2007

MLS Sees a Steady Fourth Quarter Ahead

The market remains steady during the first part of the fourth quarter of 2007, according to figures released by the Calgary Real Estate Board.

Single family Calgary metro sales in October were 1,113 an decrease of 10.3% from the 1,241 sales recorded in October 2006 and an increase of 4.6% from the 1,064 sales recorded in September 2007.

Single family Calgary metro new listings added for the month of October totaled 2,586 a 2.9% increase over the 2,513 new listings added in October 2006. This is a decrease of 16.7% over the 3,106 new listings added in September 2007.

The median price of a single family Calgary metro home in October 2007 was $412,500 showing a 10.00% increase over October 2006 when the median price was $375,000 and showing a 1.9% decrease from September 2007 when the median price was $420,500. 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 October were 1,203 showing an decrease of 8.5% from the 1,315 new listings added in September 2007. This is a 13.2% increase from the 1,063 new listings coming to market in October 2006.

Calgary metro condominium sales in October 2007 were 501 a decrease of 6.4% from October 2006 when the sales were recorded as 535 and a 3.7% increase from the 483 condominium sales recorded in September 2007.

The average price of a single family Calgary metro home in October 2007 was $452,254 and the average price of a metro condominium was $331,617.