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Following info from the Calgary Real Estate Board

 

Calgary, August 3, 2010 –

 
The summer cool down in Calgary’s housing market continued in the month of July, according to figures released today by the Calgary Real Estate Board (CREB®).
 

 

The number of single family homes sold in July 2010 in the city of Calgary was down 42 per cent

from the same time a year ago, and condominium sales saw a decrease of 44 per cent from the same time a year ago.

  

July 2010 saw 915 single family homes sold in the city of Calgary. This is a decrease of 14 per cent from 1,061 sales in June 2010. In July 2009, single family home sales totalled 1,585. The number of condominium sales for the month of July 2010 was 396. This was a decrease of 11 per cent from the 445 condominium transactions recorded in June 2010.
  
In July 2009, condominium sales were 702.  “Calgary’s housing market is cooling off after its

record-setting pace in the post-recession period. This slow-down is not all that surprising in the face of tighter mortgage regulations and rising interest rates. The post-recession rally we saw in the summer of 2009 was unique and that pace couldn’t be sustained,” says Sano Stante, CREB

® president elect.

  

“The sense of urgency seen last summer, fall and winter in the lead-up to tighter mortgage-lending

measures has diminished,” says Stante. “Rising mortgage rates and increased inventories will be

the primary head-wind facing Calgary’s housing market, but improving job prospects will offer some tail winds in the latter half of 2010 and into 2011.”
  

The average price of a single family home in the city of Calgary in July 2010 was $464,655, showing a 4 per cent decrease from June 2010, when the average price was $481,964, and showing an increase of 6 per cent from July 2009, when the average price was $436,782. The average price of a condominium in the city of Calgary was $291,168, showing no significant

change from June 2010, when the average price was $292,238 and a 2 per cent increase over last year, when the average price was $285,032. 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.
  
“We are seeing relative stability in our average and median prices for the Calgary market,” says Stante. “A gradual return to moderate interest rates will not trigger any kind of steep decline in prices in our housing market. Prices may soften in select markets where inventory has bulked up, but for the most part they will remain relatively sticky as the economy improves.”
  
“Nonetheless with the combination of historically low interest rates and a large inventory of homes, there are some great buys out there—particularly in areas where comparable stock is ample such as the condominium and multi-family market. This presents a great opportunity to get into the market or to trade up,” adds Stante.
  
The median price of a single family home in the city of Calgary for July 2010 was $400,000, showing a 5 per cent decrease from June 2010, when the median price was $418,900, and a 3 percent increase from July 2009, when the median price was $390,000.
 
The median price of a condominium in July 2010 was $268,000, showing a 1 per cent decrease from June 2010, when the median was $269,900. That’s up 2 per cent from July 2009, when the median price was $263,000.
  

All city of Calgary 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.

  

There was a slowdown in the number of Calgarians putting homes up for sale in the month of July.

Single family listings in the city of Calgary added for the month of July totalled 1,942, a decrease of 29 per cent from June 2010 when 2,733 new listings were added, and showing a decrease of 7 per cent from July 2009, when 2,089 new listings came to the market.
  

Condominium new listings in the city of Calgary added for July 2010 were 890, down 18 per cent

from June 2010, when the MLS® saw 1,084 condo listings coming to the market. This is a decrease of 3 per cent from July 2009, when new condominium listings added were 918.
 

“Indeed Alberta and Calgary’s economic recovery is lagging behind the rest of the country right now. But on the bright side we see this trend reversing itself as we move into 2011. We expect Alberta to lead in economic growth and recovery—outperforming much of the country in 2011,” says Stante.

Read
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RSS

Following info from the Calgary Real Estate Board

 

Calgary, August 3, 2010 –

 
The summer cool down in Calgary’s housing market continued in the month of July, according to figures released today by the Calgary Real Estate Board (CREB®).
 

 

The number of single family homes sold in July 2010 in the city of Calgary was down 42 per cent

from the same time a year ago, and condominium sales saw a decrease of 44 per cent from the same time a year ago.

  

July 2010 saw 915 single family homes sold in the city of Calgary. This is a decrease of 14 per cent from 1,061 sales in June 2010. In July 2009, single family home sales totalled 1,585. The number of condominium sales for the month of July 2010 was 396. This was a decrease of 11 per cent from the 445 condominium transactions recorded in June 2010.
  
In July 2009, condominium sales were 702.  “Calgary’s housing market is cooling off after its

record-setting pace in the post-recession period. This slow-down is not all that surprising in the face of tighter mortgage regulations and rising interest rates. The post-recession rally we saw in the summer of 2009 was unique and that pace couldn’t be sustained,” says Sano Stante, CREB

® president elect.

  

“The sense of urgency seen last summer, fall and winter in the lead-up to tighter mortgage-lending

measures has diminished,” says Stante. “Rising mortgage rates and increased inventories will be

the primary head-wind facing Calgary’s housing market, but improving job prospects will offer some tail winds in the latter half of 2010 and into 2011.”
  

The average price of a single family home in the city of Calgary in July 2010 was $464,655, showing a 4 per cent decrease from June 2010, when the average price was $481,964, and showing an increase of 6 per cent from July 2009, when the average price was $436,782. The average price of a condominium in the city of Calgary was $291,168, showing no significant

change from June 2010, when the average price was $292,238 and a 2 per cent increase over last year, when the average price was $285,032. 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.
  
“We are seeing relative stability in our average and median prices for the Calgary market,” says Stante. “A gradual return to moderate interest rates will not trigger any kind of steep decline in prices in our housing market. Prices may soften in select markets where inventory has bulked up, but for the most part they will remain relatively sticky as the economy improves.”
  
“Nonetheless with the combination of historically low interest rates and a large inventory of homes, there are some great buys out there—particularly in areas where comparable stock is ample such as the condominium and multi-family market. This presents a great opportunity to get into the market or to trade up,” adds Stante.
  
The median price of a single family home in the city of Calgary for July 2010 was $400,000, showing a 5 per cent decrease from June 2010, when the median price was $418,900, and a 3 percent increase from July 2009, when the median price was $390,000.
 
The median price of a condominium in July 2010 was $268,000, showing a 1 per cent decrease from June 2010, when the median was $269,900. That’s up 2 per cent from July 2009, when the median price was $263,000.
  

All city of Calgary 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.

  

There was a slowdown in the number of Calgarians putting homes up for sale in the month of July.

Single family listings in the city of Calgary added for the month of July totalled 1,942, a decrease of 29 per cent from June 2010 when 2,733 new listings were added, and showing a decrease of 7 per cent from July 2009, when 2,089 new listings came to the market.
  

Condominium new listings in the city of Calgary added for July 2010 were 890, down 18 per cent

from June 2010, when the MLS® saw 1,084 condo listings coming to the market. This is a decrease of 3 per cent from July 2009, when new condominium listings added were 918.
 

“Indeed Alberta and Calgary’s economic recovery is lagging behind the rest of the country right now. But on the bright side we see this trend reversing itself as we move into 2011. We expect Alberta to lead in economic growth and recovery—outperforming much of the country in 2011,” says Stante.

Read
Categories:   | Abbeydale, Calgary Real Estate | Airdrie, Airdrie Real Estate | Alberta Housing Market | alberta housing market forecast 2012 | Alberta Housing Market, housing projections, cmhc | Alberta Housing Market, housing projections, cmhc, Calgary housing market, chestermere homes for sale | Alberta Land Tax | Android | April Market Update | April Market Updates for Calgary | Arbour Lake, Calgary Real Estate | Bowness, Calgary Real Estate | Braeside, Calgary Real Estate | Bragg Creek, Bragg Creek Real Estate | Bridlewood, Calgary Real Estate | Calgary cash incentives | Calgary Economic Recovery | calgary economy | Calgary Economy, Calgary Housing Market, Calgary Real Estate, Chestermere Real Estate | Calgary Econonomy, Calgary Housing Market, Calgary Real Estate, Chestermere Real Estate | Calgary Grants | Calgary home market | Calgary Home Prices | Calgary home sales | Calgary Homes For Sale | Calgary Housing | Calgary Housing Market | Calgary Housing Market Outlook 2012 | calgary housing market statistics | Calgary Housing Market Update | Calgary Housing Stats | Calgary Housing Trend | Calgary Market Forecast | Calgary Market Outlook 2012 | Calgary Market Update | Calgary Open House | Calgary Properties | Calgary Real Estate | Calgary Real Estate Forecast | Calgary Real Estate Market | Calgary Real Estate Stats | Calgary Relocation | Canada Housing Market | Canada Mortgage Update | Cardston, Cardston Real Estate | Carstairs, Carstairs Real Estate | Chaparral, Calgary Real Estate | Chestermere | Chestermere home for sale | Chestermere Homes | Chestermere Housing Market | Chestermere Open House | Chestermere Real Estate | Chestermere Real Estate Stats | Chestermere Realtor | Chestermere, Chestermere Real Estate | Citadel, Calgary Real Estate | Cityscape, Calgary Real Estate | CMA, Market Analysis, Selling Price, Fair Market Value, Home Value, home price | CMHC | Connaught | Connaught, Calgary Real Estate | Country Hills | Country Hills, Calgary Real Estate | Coventry Hills, Calgary Real Estate | Dalhousie, Calgary Real Estate | Deer Ridge, Calgary Real Estate | Deer Run, Calgary Real Estate | economic recovery | Economy | Evanston, Calgary Real Estate | Executive Home for Sale | Falconridge, Calgary Real Estate | Finance | First Time Home Buyers | foreclosure | Garrison Green | Garrison Green, Calgary Real Estate | Harvest Hills, Calgary Real Estate | Hawkwood, Calgary Real Estate | Hillhurst, Calgary Real Estate | Housing Trends | Inglewood, Calgary Real Estate | IPhone | January 2013 Market Update | Lake Bonavista, Calgary Real Estate | Lakeside Home For Sale | Langdon | Langdon, Langdon Real Estate | Lyalta, Lyalta Real Estate | Mahogany, Calgary Real Estate | Market Trends | Market Update | Market Value | Marlborough Park, Calgary Real Estate | Martindale, Calgary Real Estate | Mayland Heights, Calgary Real Estate | McKenzie Towne, Calgary Real Estate | MLS QR Code | MLS Search | MLS Search, Personal Real Estate Office, Real Estate, home search, compare homes, search for homes | Monterey Park, Calgary Real Estate | Mortgage | Mortgage Fraud | Mortgage Rates | Mortgage Registration | Mortgages | New Listing | Okotoks, Foothills Real Estate | Okotoks, Okotoks Real Estate | Open House | Pineridge, Calgary Real Estate | Pricing Your Home For Sale | QR Code | Real Estate | Real Estate App | Real Estate Forecast | Real Estate GPS QR Code | Real Estate Integrity | Real Estate QR Code | Real Estate, Chestermere Real Estate, Calgary, Buy, Sell, home | Recession | Redcarpet_Mountview, Calgary Real Estate | Rent vs Buy | Rental Property | Rental Property, Calgary Rental, First Time Home Buyers | Rosscarrock | Rosscarrock, Calgary Real Estate | Rural Rocky View MD, Rural Rocky View County Real Estate | Rural Rocky View MD, Rural Rocky View MD Real Estate | Rural Rocky View MD, Rural Rockyview County Real Estate | Rural Wheatland County, Rural Wheatland County Real Estate | Sage Hill, Calgary Real Estate | Secondary Suite | Sell Your Home | Selling Your Home | Shawnessy, Calgary Real Estate | Somerset | South Calgary, Calgary Real Estate | Southview, Calgary Real Estate | Spruce Cliff, Calgary Real Estate | Strathmore | Strathmore, Strathmore Real Estate | Suite | Sundance, Calgary Real Estate | Temple, Calgary Real Estate | Turtle Lake Real Estate | Tuscany, Calgary Real Estate | Victoria Park, Calgary Real Estate | Whitehorn | Whitehorn, Calgary Real Estate | Woodbine, Calgary Real Estate
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Data is supplied by Pillar 9™ MLS® System. Pillar 9™ is the owner of the copyright in its MLS®System. Data is deemed reliable but is not guaranteed accurate by Pillar 9™.
The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by The Canadian Real Estate Association (CREA) and identify the quality of services provided by real estate professionals who are members of CREA. Used under license.