CALGARY REGIONAL HOUSING MARKET ST ATISTICS Calgary Metro - Single Fami ly sales by price (%) Condominium Months oInventory About CREB® CREB® is a proessional body omore than 5300 licensed brokers and registered associates, representing 244 member oces. CREB® is dedicated to enhancing the value, integrity and expertise oits REALTOR® members. Our REALTORS® are committed to a high standard oproessional conduct, ongoing educati on, and a strict Code oEthics and standards obusiness practice. Any use or reerence to CREB® data and statistics must acknowledge CREB® as the source. The board does not generate statistics or analysis oany individual member or company’s market share. Average price inormation can be useul in establishing trends over time, but does not indicate actual prices in centres comprised owidely divergent neighbourhoods, or account or price dierentials between geographical areas. All MLS® active listings or Calgary and area may be ound on the board’s website at www.creb.com. CALGARY’S HOUSING MARKET RECOVERY DRIVEN BY SINGLE FAMILY HOME SALES Calgary’s NW sector boasted the largest gains in single amily homes sales in the frst quarterCalgary, April 1, 2011 –According to fgures released today by CREB®, Calgary Metro sales re mained at levels s imilar to the frst quarter o 2010. Improved sales in the single amily market have largely been oset by declining sales in the condominium market, indicating that the gradual recovery will continue to be driven by the single amily market or the better portion othe year . Single amily home sales in the frst quarter o2011 were 3,309, a 4 per cent increase over the frst quarter o2010. The combination ostable home prices, low interest rates and year-over-year improvements in employment are the primary actors ueling the growth. March 2011 single amily home sales totaled 1,355, a 3 per cent decrease over March 2010 fgures. The decline in sales was accompanied by a 19 per cent year-over-year decline in new listings. As a result, inventory remained at three months, which indicates a balanced single amily market. The NW sector boasted the largest gains in single amily home sales in the frst quarter o2011 with 1,198 sales, a 13 per cent increase over the frst quarter o2010. Sales in the SE posted quarterly gains o5 per cent, while the SW remained relative ly unchanged and NE sales declined by 9 per cent. “Improved aordability levels in single amily homes have oered some individuals the opportunity to purchase homes in areas othe city that were once unattainable,” says Sano Stante, president oCREB®. The SW sector recorded the highest single amily average home price in the frst quarter o2011 at $570,748, while average home prices in the NW and SE were $464,990 and $422,821 respectively. The NE sector continues to remain the most aordable, with average prices hovering around $282,713. “Average single amily home prices remain relatively stable compared to the frst quarter olast year, as people continue to purchase more homes at the lower end othe price spectrum,” says Stante. “The rise in sales has been primarily oset by a corresponding increase in listings, resulting in stable average prices.” Calgary Metro average price osingle amily homes in March 2011 was $462,947, a 2 per cent decline rom March 2010, and virtually unchanged rom the previous mo nth. Meanwhile, the median price de clined by 5 per cen t compared to March 2010. Quarterly condominium sales continue to all over levels recorded in the previous year, down by 11 per cent compared to the frst quarter o2010, while quarterly average prices are down by 1 per cent. It is important to note the quarterly average price ocondominiums is skewed upwards or 2011 due to the sale oa $4.1 million condominium. Iwe remove this sale, quarterly average price would have declined by over 2 per cent. The average price ocondominiums in March 2011 was $280,781, while the median price was $256,000, a respected 5 per cent drop and 7 per cent, respectively, rom levels recorded in March 2010. Improved selection oaordable single amily homes and higher inventory levels onew condominiums have reduced the demand or resale ocondominiums. It is anticipated that demand should gradually recover in the latter halothe year, as Calgary’s economic recovery continues to take hold. “This provides a window oopportunity or condo buyers early in the year to discover a large selection oavailable product at aordable prices,” says Stante. Calgary’s labour market has shown some recent improvements, however, it is still in the early stages orecovery as job growth remains below the 5-year average. Improvements in the energy sector are anticipated to show stronger job growth in the second halothe year, providing the oundation or continued recovery in the housing market. MARCH 2011 0.00 0.05 0.10 0.15 0.20 0.25 $0 - $199,000 $200,000 - $299,999 $300,000 - $349,999 $350,000 - $399,999 $400,000 - $499,999 $500,000 - $699,999 $700,000 - $999,999 $1,000,000+ 2008 2009 2010 201 1 YTD Total M a r0 7 M a y 0 7 J u l y 0 7 S e p t0 7 N o v 0 7 J a n 0 8 M a r 0 8 M a y 0 8 J u l y 0 8 S e p t0 8 N o v 0 8 J a n 0 9 M a r0 9 M a r1 1 M a y 0 9 J u l y 0 9 S e p t0 9 N o v 0 9 J a n 1 0 0 2 4 6 8 10 M a r1 0 M a y 1 0 J u l y 1 0 S e p t1 0 N o v 1 0 J a n 1 1
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8/7/2019 March Calgary Real Estate Market Statistics 2011