Calgary Realestate Stats for Nov2010

Calgary Real Estate Market Statistics for November 2010

November home sales in the city of Calgary remained steady month-over-month, while year-over-year sales were down, according to figures released today by the Calgary Real Estate Board (CREB®).

The number of single-family home sales in the month of November 2010 held firm at 891, compared with October 2010, when sales were 888.

The number of condominium sales for the month of November 2010 was 310. This was the same as the 310 condominium transactions recorded in October 2010.

Year-over-year, the number of single-family homes sold in November 2010 in the city of Calgary was down 19 percent.

In November 2009, single-family home sales totaled 1,095. Condominium sales saw a decrease of 38 percent from the same time a year ago.

In November 2009, condominium sales were 504.

Indeed, the second half of 2010 has proven to be weaker than expected, and Calgary's housing market is taking some time to regain traction, says Diane Scott, president of CREB®.

Subdued sales have meant buyers have an abundance of products to choose from, and they can be selective in their buying criteria.

In this market, REALTORS® and their sellers have to be competitive in their pricing and go back to the basics" condition, location and price adds Scott.

The average price of a single-family home in the city of Calgary in November 2010 was $455,460, showing a 2 percent increase from October 2010, when the average price was $444,744, and a 2 percent decrease from November 2009, when the average price was $464,444. The average price of a condominium in the city of Calgary in November 2010 was $284,667, showing a 1 percent decrease from October 2010, when the average price was $287,793 and a 3 percent decrease over last year when the average price was $294,264. Average price information can be useful in establishing trends over time, but does not indicate actual prices in centers comprised of widely divergent neighbourhoods, or account for price differentials between geographical areas.

The median price of a single-family home in the city of Calgary for November 2010 was $399,900, showing a 3 percent increase from October 2010 when the median price was $387,900. This was a 2 percent decrease from November 2009, when the median price was $408,000. The median price of a condominium in November 2010 was $253,300, showing a 1 percent decrease from October 2010, when the median price was $255,000, and a 4 percent decrease from November 2009, when it was $264,900.