Metro Calgary home re-sales at 1,290

Calgary, May 1, 2009 – MLS® sales
activity of single family Calgary metro
homes was 1,290 in the month of April
2009, showing an increase of 19 per cent
from 1,086 sales in March 2009, according
to fi gures released by the Calgary Real
Estate Board (CREB®). This was a
decrease of 5 per cent from April 2008,
when single family home sales were 1,363.
The number of condominium sales for the
month of April 2009 was 579, an increase
of 30 per cent from the 446 condominium
transactions recorded in March 2009, and
a decrease of 0.3 per cent from April 2008,
when 581 condominiums changed hands.
“Spring is giving new life to the residential
real estate market,” said Calgary Real
Estate Board President, Bonnie Wegerich.
“Affordable pricing and low interest rates
are drawing buyers back to the market.”
“In particular we are fi nding more and more
fi rst time home buyers taking advantage of
great inventory and very low interest rates.
We expect spring sales activity will also
get a boost from the federal government
incentives announced in the last budget,
including the increase in the maximum
withdrawal allowed under the Home
Buyers’ Plan and the First Time Buyer Tax
Credit,” added Wegerich.
The average price of a single family
Calgary metro home in April 2009 was
$426,311, showing an increase of 1 per cent
from March 2009, when the average price
was $420,354, and showing a decrease
of 10 per cent from April 2008, when the
average price was $474,564. The average
price of a Calgary metro condominium was
$277,953, showing a 2 per cent decrease
from March 2009, when the average price
was $284,056, and a decrease of 11 per
cent over last year, when the average price
was $312,586. 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 average price for home sales remains
below levels reached one year earlier, but
year-over-year declines are contracting,”
said Wegerich. “Our inventory also
continued to decrease in April, which is
helping to fi rm up the balance of supply
and demand,” added Wegerich.
REALTORS® are educated, licensed professionals trained to guide you through the real estate transaction.
SPRING BRINGS BOOST TO CALGARY’S RESIDENTIAL REAL ESTATE MARKET
Metro Calgary home re-sales at 1,290
No MLS® information can be reprinted without sourcing the Calgary Real Estate Board.
Calgary Metro Condominium Average Price
Total MLS®
REALTOR® SOLD PROPERTIES
APRIL 2009
Absorption Rate
Single family Calgary metro new listings
added for the month of April totaled 2,010,
down just 1 per cent from the 2,023 new
listings added in March 2009, and showing
a decrease of 40 per cent from April 2008,
when 3,377 new listings came to the
market. Calgary metro condominium new
listings added in April 2009 were 967, up
7 per cent from March 2009, when the
MLS® saw 903 condo listings coming to
the market. This is a decrease of 35 per
cent from April 2008, when condominium
listings were 1,493.
The median price of a single family
Calgary metro home in April 2009 was
$380,000, showing an increase of 1 per
cent from March 2009, when the median
price was 375,000, and down 10 per cent
from April 2008, when the median price
was $420,000. The median price of a
condominium in April 2009 was $251,000,
down 3 per cent from March 2009, when
the median was $260,000, and down
13 per cent from April 2008, when the
median price was $290,000. All Calgary
metro MLS® statistics include properties
listed and sold only within Calgary’s city
limits. The median price is the price that
is midway between the least expensive
and 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.
“Undoubtedly this market has been
challenging for both buyers and sellers,
but the improvement in recent months is an
encouraging sign,” said Wegerich. “There’s
more confi dence in the housing market
today than at the end of 2008. Prices are
stabilizing, inventory is declining and the
number of new listings is leveling—these
are all signs that a balanced market is on
the horizon.”
CREB® is a professional body of 5,200
licensed brokers and registered associates,
representing 252 member offi ces. 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.