September 2008 Market Report
The Calgary Real Estate Board statistics for the month of September have been released and the numbers are interesting. You can download the complete report from the CREB website but I will highlight some of the details.
Single Family - Calgary Metro
The year-over-year comparisons are starting to change with sales numbers last month 8.2% greater than in September 2007 (Single Family Calgary Metro Sales). In September 2007 there were 1,064 single family home sales, during September 2008 the number of sales was 1,152. During the same time there were 15% fewer new listings added in the single family market.
The month-end inventory was down compared with last year too, with 5,387 listings at the end of the month compared with 5,562 last year. The average sale price was 444,048 (vs. $470,888 - a decline of 5.7%) while the median price was $395,000 (vs $420,500 - a decline of 6.06%).
Condominium - Calgary Metro
Inventory in the condominium market is still greater than it was at this time last year, with 2,659 listings on the market at the end of last month. This compares to 2,235 at the end of September 2007 (up 18.9%). The number of new listings being added to this inventory was down 9.8% compared with last year with 1,186 new condos coming to the market.
The number of sales was slightly less than last September at 465 units compared with 483. Average price declined by 10.63% to $287,426 (median price down 11.67% to $265,000).
I'm committed to helping my clients buy, sell and enjoy their homes and I strive to provide an added level of value and service at every stage of the Real Estate transaction. 