Metro-Calgary Single Family Homes (SFH)
October recorded an average price of $462,465 and a median of $410k – an increase month-over-month (September 2009: $459,085/$399,900) as well as year-over-year (October 2008: $449,100/$390,000)
This is the highest average price since June 2008, and the highest median price since May 2008.
Month-end inventory was 3003, its lowest level since April/May 2007.
Metro-Calgary Condo
Condos recorded an average price of $289,155 and a median of $263,500 – both down slightly from last month ($290,253/$265,000) In October 2008 the average was $289,148 and a median of $268,000 – almost an exact average price, with the median down $4500.
Month-end inventory was 1482, again down from last month but higher than August levels. Condo inventory currently seems to be more stable than SFHs.
For more statistics, updated daily – be sure to visit my website at www.FindCalgary.ca
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7 responses so far ↓
Matthew // November 1, 2009 at 11:09 am
looking at these 3 key graphs, it’s pretty hard to conclude anything other than that the current prices are a bad deal relative to the supply and demand conditions
how quickly things change – the C$ dropped from 98 cents to 92 cents in 2 weeks… get ready for higher interest rates
worldclass // November 1, 2009 at 7:06 pm
Higher interest rates won’t be coming until you see the CAD$ around 75 cents or lower. We are already struggling with the dollar at 90 plus cents!
Jimmy // November 2, 2009 at 8:43 am
Matthew
Supply is very low and demand is relatively high for October so why should it be a surprise that prices went up? There might be other reasons that prices are a bad deal but supply and demand are not those reasons. The ab rate actually went down this month which tells us the market is “heating up” relatively even though its the fall.
Prices this year have outpaced wage growth so I would say that the market is a “bad deal” in that respect however.
92 cents is high compared to the average value this year – remember when it was in the 70s and 80s earlier this year? (Interest rates did not go up then). Even if it hit 75 again I doubt you’d see Carney budge until next summer. And a 75 cent dollar would be awesome for Alberta by the way.
Mike, but not Mike F mike // November 3, 2009 at 3:20 am
A huge victory for buyers and sellers and the home selling market as a whole. This should have been done years ago.
“In a landmark investigation, the bureau has concluded the Canadian Real Estate Association has anti-competitive rules and must change its ways…Canadians in the housing market will pay less in realty commissions and fees if the federal Competition Bureau has its way….CREA rules the bureau wants changed include those that say the listing realtor must act as the agent of the seller and receive and present all offers to the seller, and property information cannot be posted on the Multiple Listing Service without an agent representing the seller.
Changes to these rules would mean offers could be sent directly to the seller without the involvement of the listing agent. Consumers could likely have their listings posted on the MLS for a small fee.”
http://www.yourhome.ca/homes/newsfeatures/article/719628–real-estate-fees-could-be-slashed
Mike, but not Mike F mike // November 3, 2009 at 3:29 am
As a follow up:
“Changes to these rules would mean offers could be sent directly to the seller without the involvement of the listing agent”
http://www.yourhome.ca/homes/newsfeatures/article/719628–real-estate-fees-could-be-slashed
This is really good news, we had listed our house with -EDIT- for 30 weeks, we received no offers. It wasn’t until 9 months later when we listed FSBO (we sold in 2 weeks) that we found out our eventually buyer actually made an offer on our house when listed with -EDIT- and -EDIT- didn’t present the offer to us (or even tell us an offer was made!) feeling it was “too low”. How many other offers were made and not reported to us? Who knows, we surely don’t.
No apology from -EDIT- or our Realtor ever came. We think it was a breach of CREA rules.
Now with the changes in the rules, we would list our email and phone number so buyers can contract us directly or we can contact them.
It would also allow us to present lower offers our Realtor wouldn’t because of his “area reputation”.
Mike
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Mike Fotiou says: I’ve edited out the company name since I can’t verify what you’ve written.
Mike, but not Mike F mike // November 3, 2009 at 1:02 pm
Mike Fotiou says: “I’ve edited out the company name since I can’t verify what you’ve written.”
How would you like me to verify it? I don’t mind you asking them, I don’t post false facts. Would you like the buyer realtors ph#? I can supply that, he told me they made an offer.
I have the brokerage ph#, you could call them and ask: or you could call my old realtor who was handling the sale when the offer never reached us.
I have lots of ph#’s and people to verify the fact.
Mike
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Mike Fotiou says: I don’t want to put an entire brokerage in a bad light because of one agent, that’s all. Your agent was wrong not to pass on any and all information he might have had regarding your property.
October numbers are in…. - Edmonton Housing Bust // January 23, 2010 at 3:07 pm
[...] different story then we’ve been hearing about the last few months, and even what happened in Calgary last month. While sales were down noticeably from September (as is normally expected given real estates [...]