Calgary Real Estate Stats - May 11/07 Update
Posted May 11, 2007 @ 9:38 pm, Viewed by 1623 Visitors, Read 1715 Times.
Your weekly update of Calgary House Prices
Calgary Real Estate Stats: May 01 - 08/07
| Single Family | 2007 | 2006 |
| Average Selling Price | $479,011 | $388,647 |
| Median Selling Price | $430,000 | $359,900 |
| New Listings | 1,240 | 798 |
| Sales | 668 | 699 |
| Sales to New Listing Ratio | 54% | 88% |
| Sales to Active Listing Ratio | 17% | n/a |
| # of Active SF Listings | 3,994 | |
| Condominium | ||
| Average Selling Price | $329,780 | $253,255 |
| Median Selling Price | $305,000 | $249,000 |
| New Listings | 449 | 308 |
| Sales | 267 | 266 |
| Sales to New Listing Ratio | 59% | 86% |
| Sales to Active Listing Ratio | 22% | n/a |
| # of Active SF Listings | 1,213 | |
| Combined Residential (SF+Condo) | ||
| Average Selling Price | $433,214 | $349,402 |
| Median Selling Price | $390,000 | $320,000 |
| New Listings | 1,702 | 1,108 |
| Sales | 943 | 971 |
| Sales to New Listing Ratio | 55% | 88% |
| Sales to Active Listing Ratio | 18% | n/a |
| # of Active SF Listings | 5,254 |
Discussion: New Calgary listings continue to outpace sales by a 3:2 margin, with the total number of active listings increasing almost 60% in the past 10 weeks. The average Calgary house price was $479,011 last week, while the average price of a Calgary condo was - $329,780. Both these represent all-time record highs, as the price of Calgary property continues to rise.
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*Stats are provided by the Calgary Real Estate Board, and are deemed reliable but not guaranteed
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Social Bookmarking2 Responses to “Calgary Real Estate Stats - May 11/07 Update”
John - Good question. Average price is computed by taking the total and dividing by the number of units, while Median (price) is the Price of the middle unit. i.e. If three homes sold for $200,000, $300,000, and $1,000,000, the average would be the sum divided by 3, or $1,500,000 / 3 = $500,000. The Median is the price of the middle unit, in this case $300,000. The median price is a useful metric IF there are extremes on either end of the spectrum. While the average (price) will be skewed if 10% of the samples were extremely high (say 10% of homes sold for $20-million, while most of the rest sold for around $500K), the median price isn't influenced by extremes on either end of the data set.
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Jim Sparrow is a consistent top-producing Calgary REALTORŪ with Keller Williams Platinum Realty specializing in South Calgary estate and luxury homes.Visit our website at Calgary Real Estate or contact me directly at 403.703.2404
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Can you give a definition or explain the difference between Median Selling Price & Average Selling Price. Thanks John