Calgary Buyers' Remain Cautious

Home sales in the City of Calgary were down month-over-month in October 2010.  Year-over-year sales continued to trend lower in the month of October, according to figures released today by the Calgary Real Estate Board.  Buyers remain cautious, perhaps waiting to feel a little more confidence in Calgary's economic growth and their own job security. 

The median price of a single family home in the City of Calgary for October 2010 was $387,900, showing a 1% decrease from September 2010 when the median price was $390,000.  This was a 5% decrease from October 2009, when the median price was $410,000.  The median price of a condominium in October 2010 was $255,000, showing a 4% decrease from September 2010, when the median price was $265,000, and a 3% decrease from October 2009, when it was $263,500.

Our average price of $444,744, is being buoyed by more sales in the million dollar plus category.  Despite a slowdown in certain market segments, homes sold in the City of Calgary at one million dollars or more have actually seen an increase of more than 15% when compared to the same time one year ago.  This boost in sales is, indeed, a bright spot in our current market.

We are seeing some decline in the number of new listings coming on to the market.  A continuing decline in supply will help bring the market into balance.
Source:  CREB(R)

Buyers' Market Continues in Calgary...

There are signs that September may mark a gradual, if not slight, uptick for Calgary's housing market...  We are seeing a modest improvement since the market's decline, that really started in April of this year.  While consumer confidence and job growth has improved, economic jitters will continue to impact Calgary's housing market into fall.  More and more homebuyers will eventually return to the marketplace, but for the moment they remain moderately cautious.
Source:  CREB(R)

The Spring Market has Arrived...

     Calgary's housing market enjoyed a healthy boost in March, as homebuyers anticipate an earlier than expected rise in interest rates, according to figures released by the Calgary Real Estate Board (CREB(R)).
     The spring market has arrived... according to the March statistics, Calgarians are feeling positive about the housing market.  Improved economic conditions, better employment prospects are all contributing factors to a return to stability and the Calgary market remains in a healthy position.
Source:  CREB(R)