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link: http://www.creb.com/public/hbuyer/hb-stats-residential.htm) _! J! e9 p# @! |% C' z$ U7 j
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2 L6 n( ~& i; S: C: c& kFOUR MONTHS OF INCREASING INVENTORY AND. X# [7 s6 K8 R8 I H7 @. r
SUBSEQUENT PRICE REDUCTIONS GIVE BUYERS A WELCOME EDGE
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Calgary, November 1, 2006 – MLS® listings remained strong in October 2006, providing buyers with more product to choose from, according to figures released by the Calgary Real Estate Board (CREB®).3 U' a& C% H, [- A3 H
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October combined residential sales totaled 2,122, showing a slight decrease of 2.66 per cent from last month's sales of 2,180 and showing a decrease of 17.69 per cent from October 2005 when the sales were recorded at 2,578. The following shows the breakdown of the October combined sales; 1,492 single-family residences, 619 condominium, and 11 mobile homes. October 2005 sales in the same categories were, 1,806, 760, and 12, respectively.
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: X2 b( o" M) c' MThe average combined residential sale price for October 2006 was $374,067, showing a 46.90 per cent increase over October 2005, when the average price was $254,643, and a 1.12 per cent increase over last month's average price of $369,928. Broken out, the following is a comparison of single-family, condominium, and mobile home average sale prices for the month of October 2006 over 2005: single-family $413,712 / $284,206; condominium $283,888 / $187,661; and mobile home $71,309 / $47,658.
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October 2006 new residential combined listings totaled 4,257. This is a 51.44 per cent increase over October 2005, when 2,811 new listings came to the market and showing an 11 per cent decrease over the 4,783 homes listed in September.4 V4 i" b: ]5 N3 ]
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Condominium sales in October totaled 619 showing a decrease of 18.55 per cent from October 2005's sales of 760 and a 7.20 per cent decrease over the 667 condominiums sold in September 2006. The average sale price of a condominium in October 2006 was $283,888 a 51.28 per cent increase from October 2005 when the average price was $187,661 and a 1.66 per cent decrease from last month's record breaking condominium average price of $288,676.) n+ L, C; Q( ^" }
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"Buyers have a welcome window of opportunity with this considerable increase of inventory", says CREB® President, Kevin Clark. "Sellers must be competitive to sell before Christmas and buyers may lose out by waiting until spring," he continued. "This is an unusual market, so confirm with your REALTOR® that you are making the best decisions." V0 _, z7 ~: S- p! l) N& @3 Q
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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 median price is determined by selecting the middle number of total sale prices – the combined residential median price for October 2006 remained the same as September at $333,000; but showing a 49.33 per cent increase from October 2005, when the median price was $223,000.
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+ o1 q# D" k7 [( X0 E8 bThe Calgary Real Estate Board is a professional body of 5,359 licensed brokers and registered agents, representing 259 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. SINGLE FAMILY 2006 2005 2006 YTD 2005 YTD %Change , {1 b" e6 f! Y( H
Average Sale Price 410,326 283,523 381,004 273,917 39.09%4 u5 b" o- I7 A# m* y% B- l
Listings 3,497 2,330 26,068 23,701 9.99%
+ b! D2 d4 b6 V. h2 v2 l5 `5 qSales 1,493 1,891 18,582 17,594 % r: g" [; c- \) X3 g5 U. w
5.62%# H: S! G% r1 @8 N/ L
Dollar Volume 612,616,312 536,141,419 7,079,819,935 4,819,303,773 46.91%
! c! Y# c8 i7 s5 }3 ~) hSales to Listing Ratio 42.69% 81.16% 71.28% 74.23% -3.97%5 O1 i; ` g% ^- f
Median Price 373,000 249,000 346,815 244,000 42.14%: h' Z- i7 G/ j b% \
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CONDOMINIUM
& | O" |# c8 Q% w7 d% OAverage Sale Price 288,676 183,217 255,396 181,538 40.68%
3 H: y7 y; }9 s! z3 a9 qListings 1,268 893 9,676 8,886 8.89%. D1 n% n; C: G! y7 {" h8 u, T
Sales 667 731 7,734 6,700 15.43%7 Q' @, h0 n! \$ k$ X5 K# a, ?
Dollar Volume 192,546,611 133,931,268 1,975,233,059 1,216,306,177 62.40%9 w7 @7 a+ I9 G/ ?5 w4 B
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Sales to Listing Ratio 52.60% 81.86% 79.93%
: j4 ^8 o7 u* C+ r4 H+ }0 N75.40% 6.01%
! j" J% Y2 m+ n" J) s0 d8 UMedian Price 262,000 164,850 238,600 162,000 47.28%
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Average Sale Price (incl. in Residential) 64,025 38,381 49,166 38,936 26.27%
! e8 D1 N& u3 E9 j# DListings (incl. in Residential) 18 27 191 292 -34.59
! [- g J' l; }) c# X5 [) \% U) xSales (incl. in Residential) 20 19 173 127 36.22%" P! E% L$ V1 g" O* Q3 T
Dollar Volume (incl. in Residential) 1,280,500 729,240 8,505,688 4,944,830 72.01%# }. |. M, k3 ~6 b3 @! P2 F
1 G! X) E3 e, M2 v: V8 ^Sales to Listing Ratio (incl. in Residential) 111.11% 70.37% 90.58% 70.37% 28.71%" h, V# p) q+ M( N7 n7 _
Median Price 60,000 37,000 43,000 35,000 22.86%
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0 E# [+ o- N: N+ rRURAL w/HOME % ?! @* }: c- K8 \5 z/ A
Average Sale Price 596,247 492,789 672,624 500,494 34.39%
. ~2 s, W2 m& ^- Z0 P) z6 W. CListings 184 152 1,505 1,525 -1.31%) G2 U4 n2 o* \: U! B; v
Sales 73 75 872 782 11.51%8 o- X- [8 t9 |1 q+ B Y
Dollar Volume 43,526,000 36,959,180 586,527,891 391,386,274 49.86%- d3 a/ e! K/ Q
* l1 ~7 W! F, F9 dSales to Listing Ratio 39.67% 49.34% 57.94% 51.28% 12.99%
" a- y# o; y- S2 cMedian Price 567,500 455,000 580000 440,000 31.82%* l$ h: |6 Q2 b' v% T
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Average Sale Price 731,137 248,272 525,749 295,913 77.67%0 J) o: y, k( a" z- z- t
Listings 85 70 634 538 17.84%' d ? a) z" Z7 b2 x0 F
Sales 30 39 357 260 37.31%
( X k1 K6 V3 k5 H* D, e& tDollar Volume 21,934,100 9,682,600 187,692,481 76,937,469 143.95%
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Sales to Listing Ratio 35.29% 55.71% 56.31% 48.33% 16.52%
4 U5 T- @- e- l, fMedian Price 460,000 187,250 300,500 189,000 58.99%! b* a# S4 k- _; C* T$ Y& c) u: R
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RESIDENTIAL COMBINED (Single Family, Condo, Mobile)
, M) s! Y8 b' q9 tAverage Sale Price 369,928 253,995 342,163 247,351 38.33% j& x5 g) T$ L& t: E
Listings 4,783 3,250 35,935 32,879 9.29%, g, @+ H0 V7 A) O0 ^$ i4 x2 j
Sales 2,180 2,641 26,489 24,421 / o/ K h! T6 [/ w+ ]
8.47%. o) M# \$ q6 B' K; e4 S
Dollar Volume 8 z( ?. L9 S3 k& B# X
806,443,423 670,801,927 9,063,558,682 6,040,554,780 50.05%( f# m& ]- Q1 O0 t' U" g$ R
1 L: t! f9 Z1 i7 g) LSales to Listing Ratio % |: Q$ X8 A9 o/ P
45.58% 81.26% 73.71% 74.28% -0.76%
' `% h8 D$ W1 [4 P! r SMedian Price 333,000 233,500 310,000 220,000 40.91%
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Average Sale Price 381,911 260,415 354,924 255,621 38.85%
- l( x+ R1 c6 F* o% M1 iListings 5,052 3,472 38,074 34,942 8.96%8 @; \6 _3 o7 u; [$ Y5 D+ J% Y5 a. m
Sales 2,283 2,755 27,718 25,463 8.86%
' A- s( x2 O! T h9 G& N4 yDollar Volume 871,903,523 7 c" e% H V q7 E
717,443,707 9,837,779,054 6,508,878,523 51.14%2 X; Z( B" `; a% k" N! L/ y9 q
8 V; u1 I1 X$ [4 jSales to Listing Ratio 45.19% 79.35% 72.80% 72.87% -0.10%
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2006 StatisticsJanuary 2006 April 2006 July 2006 October 2006: u8 }8 l2 A; \
February 2006 May 2006 August 2006 A% R R; k o9 G
March 2006 June 2006 September 2006
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2005 StatisticsJanuary 2005 April 2005 July 2005 October 2005
) K2 l! y& j2 a# ^! XFebruary 2005 May 2005 August 2005 November 2005& K; x5 P" m6 |/ k# ^7 m
March 2005 June 2005 September 2005 December 2005
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; N" G% R$ t1 o/ I( ?2004 StatisticsJanuary 2004 April 2004 July 2004 October 2004
5 r/ X0 R9 u6 ~* \2 q/ wFebruary 2004 May 2004 August 2004 November 2004% x4 x" }7 Y% N
March 2004 June 2004 September 2004 December 20045 F; z7 o2 _# Q/ ^2 G
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" A. i. A* a7 m/ D4 w2003 StatisticsJanuary 2003 April 2003 July 2003 October 2003
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March 2003 June 2003 September 2003 December 2003
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5 i1 L( @: ]0 p& O0 L2002 StatisticsJanuary 2002 April 2002 July 2002 October 20025 ^* K4 C1 x' m/ l3 t! ~1 w2 V
February 2002 May 2002 August 2002 November 2002
0 T% s8 ?+ }' M$ k8 XMarch 2002 June 2002 September 2002 December 2002
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( p2 F1 h8 Y. E1 S, j7 u( z2001 StatisticsJanuary 2001 April 2001 July 2001 October 2001. R. h( r( B ]
February 2001 May 2001 August 2001 November 20015 x8 D, c, F- @0 w2 x5 v
March 2001 June 2001 September 2001 December 2001
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2000 StatisticsJanuary 2000 April 2000 July 2000 October 2000
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Residential refers to single-family homes, condominiums, and mobile homes combined.8 J9 T7 J3 i; m- M
5 _6 r, `) U, m/ v5 L9 pThe use of average price information can be useful in establishing trends when applied over a period of time, i.e. six months or longer. The Calgary Real Estate Board cautions that an average price does not indicate the actual value of any particular property. Those requiring specific information on property values should contact a REALTOR.
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Consult with a REALTOR to define your wants and needs before you buy( U6 O$ N i7 [0 ~ J3 g
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