April 2010 Calgary Real Estate Stats

Single Family Homes

There were a total of 1352 transactions in April, averaging $460,378 with a median of $417,000.  All 3 figures are down from the previous month (March 2010) when 1396 properties changes hands with an average price of $471,269 and a median price of $423,000.

Month-end inventory was 4986, a 24% increase from March.

The inventory absorption rate was 3.7 months, stepping into “Buyer’s Market” territory.

Year-over-year, average prices were up 7.95% (April 2009: $426,311)   The median was up 9.7% from the $380,000 recorded last April when there was a total of 1290 sales.

Condo

Similarly, condo prices were down from the previous month but still up year-over-year.

A total of 639 units changed hands recording an average price of $289,588 with a median of $267,500.    The average was down 2.38% from March 2009, but up 4.18% from last April.   The median was down 2.72% from the previous month but up 6.57% YoY.

Month-end inventory stood at 2445, a 13.7% increase from the previous month.

The inventory absorption rate was 3.8 months, in “Buyer’s Market” territory.

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Month-Over-Month Decreases in Price & Sales

It’s still a little too early to read too much into the MoM price and sales drops, as this sometimes happens between the months of March and April:

(Single Family Homes)
March 2004:  1743 sales
April 2004:    1633 sales

March 2005:   $287,070 average
April 2005:     $284,238  average

March 2007:    2272 sales   $479,914  average
April 2007:      2086  sales   $474,249 average

March 2008:  1418 sales
April 2008:     1363 sales

But going back 8 years, except for 2004,  SFH average prices have always increased between April and May, so we can watch and see if May bounces back this year.

As of today, the 338 pending SFH’s are averaging $480k with a median of $410k.  (Remember to adjust for the current 97% LP/SP ratio)