MLS® Sales for the month of
February show signs of increased
market pace, according to figures
released by the Calgary Real Estate
Board (CREB®).
Single family Calgary metro properties
changing hands in February 2008
were 1,252, an increase of 15.6 per
cent over the 1,083 sales reported in
January 2008 but showing a decrease
of 35.5 from the same period last
year, when the sales were 1,942.
Single family Calgary metro new
listings added for the month of
February totaled, 2,981, a decrease
of 1.4 per cent from January’s new
listing of 3,023 and an increase of
35.1 per cent over the 2,206 new
listings added in February 2007.
The median price of a single family
Calgary metro home in February 2008
was $428,000 showing a 4.9 per cent
increase over February 2007, when
the median price was $408,000 and
showing a 4.4 per cent increase from
last month when the median price
was $410,000. 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.
Calgary metro condominium new
listings added in February 2008
were 1,244, showing an increase
of 39.9 per cent from the 889 new
condominium listings added in
February 2007. This is an 11.5 per
cent decrease from last month, when
the new listings added were 1,406.
Calgary metro condominium sales in
February 2008 were 562; a decrease
of 37.2 per cent from February 2007
when 895 condominiums changed
hands and an increase of 23.8 per
cent from the 454 sales recorded in
the month of January 2008.
“It appears as though things are
picking up, as we move into the final
month of the first quarter. I don’t
anticipate we’ll see the blistering
market that we experienced in the
early parts of 2006 and 2007, but I
do anticipate stability in this now
corrected market,” remarked CREB®
President, Ed Jensen. “Calgary is
a very desirable place to live at the
moment, with our strong economy,
low unemployment rates, strength in
the oil and gas industry; people are
still moving here and that’s great for
real estate.” concluded, Jensen.
The average price of a single family
Calgary metro home in February 2008
was $471,696, showing a 5.2 per cent
increase over February 2007, when
the average price was $448,557. The
average price of a metro condominium
was $311,812, showing a 3.3 per cent
increase over February 2007 when
the average price was $301,812.
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 Calgary Real Estate Board is a
professional body of 5,756 licensed
brokers and registered associates,
representing 262 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.
