A Closer Look at Calgary Real Estate (Single Family Homes, October 2008)

 The following graphs are for Single Family Homes in metro-Calgary.  For more MLS statistics, visit www.FindCalgary.com

 

 

There are other factors that affect price, considerable ones being inventory and sales volume.    If supply (rising or high levels of inventory) isn’t balanced by demand (sales volume) it will result in downward pressure on prices.

 

 

4 responses to “A Closer Look at Calgary Real Estate (Single Family Homes, October 2008)

  1. At this time, there are 211 SFH’s pending:
    Average: $432,750
    Median: $387,900

    89 Condos pending:
    Average: $335,941
    Median: $264,900

    If all those sales go through, and at a 95% SP/LP ratio, you can expect SFH’s $ to keep dropping, while Condo $ will be rising from today’s Month-to-Date stats.

  2. You may have noticed the tremendous jump month-to-date Condo average prices took today – this was because of a $2.3M sale.

    Without that particular sale, the month-to-date condo average price would have been $276,206 (instead of $298,446) which is another reason why the median price paints a more clear picture than the average.

    With low sales volumes, just one or two multi-million dollar sales will skew the average price as seen from the example above (over $20k in this instance)

  3. Two articles from the Calgary Sun that I ddin’t see in your news section

    City Sees Shift to smaller projects

    For the second month in a row, the City of Calgary has received no applications for building permits for apartment-style condominiums, while applications for new single family homes were at 244 in October, down from 309 last October.

    Overall construction permits issued by the city year-to-date were 18% off last year’s pace (12,948 compared to 15,819), while overall construction values were down by a higher margin, 27%, to $3.6 billion from $4.9 billion.

    http://www.calgarysun.com/cgi-bin/publish.cgi?p=249711&x=articles&s=homes

    Housing Market Outlook: Cooling
    http://www.calgarysun.com/cgi-bin/publish.cgi?p=249712&x=articles&s=homes

    Mike says: Thanks, I’ve added them to the News Archive.

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