Calgary Agent's Blog: All Categories

Your weekly update of the Calgary MLS® Housing Stats

Calgary MLS Market Stats: Dec 1 thru 12, 2006 Single Family 2006 2005 Average Selling Price $393,825 $300,556 Median Selling Price $356,600 $263,000 New Listings 644 619 Sales 612 629 Sales to New Listing Ratio 95% 102% Sales to Active Listing Ratio 17% n/a …

Dec 07/06:  Figures released by CREB (the Calgary Real Estate Board) earlier this week indicated the Calgary housing market continues to be strong, with 2,313 sales recorded in November 2006.

The graph below displays the number of active listings (inventory) as a function of sales vs. time. The red-hot market in the first half of 2006 is clearly visible as the curve approaches a low of just 2 weeks inventory, followed by a softening of the market as listings rose to 7,000 the first week of October (3 months inventory). Continued strong sales coupled with expiries of overpriced listings has the inventory curve trending downwards again. 

December 4, 2006

Figures released today by the Calgary Real Estate Board indicate that in spite of the normal seasonable slowdowns, the strong Calgary economy continues to drive the resale housing market.

• November combined residential sales totalled 2,313 (an increase of 9.0% over last month and a decrease of 11.45% from Nov 2005)
• Average combined residential sale price* was $360,674 (an increase of 36.40% over Nov 2005 and a decrease of 3.58% from last month) *Combined Residential includes SF homes, condos, and Mobile Homes
• The Average SF Calgary home sold for $394,712  (an increase of 33.52% over Nov 2005)
• The Average Calgary condo sold for $282,680  (an increase of 46.59% over Nov 2005)
• New residential listings…

The recent slowdown in the Calgary real estate market is only temporary, as the fundamentals of both the Calgary and Alberta economy remain strong. According to Don Campbell, author of books that include Real Estate Investing in Canada and 97 Tips for Canadian Real Estate Investors, the real estate boom Calgary experienced from June 2005 through June 2006 "are indications of the true economics of the region".

Campbell's comments were featured in both the Calgary Herald and on ROB TV in late October 2006. Asked about the increase in number of Calgary MLS listings since June '06, Campbell suggested "there are a lot of 'fishers' out there who are putting their homes up for sale at ridiculous prices, hoping that people will grab them. They are either…