With 550 sales in metro-Calgary, sales increased 22% over last month, but still 49% less than last January when 1083 homes changed hands. SFH average price was $413,049 (9% down year-over-year) while the median was $374,700 (down 8.6% YoY)
Condo sales increased 9.8% from last month to 225 sales, but 50% off last January’s level when there were 454 sales. The average sale price of metro-Calgary condo was $270,940, 1.4% down from last month, and 13% down YoY. The median price of a condo in January 2009 was $243,000 down 4.3% from December 2008 when the median was $254,000 and down 16% from January 2008 when the median price was $290,000.
Total MLS absorption rate switched gears as increased sales stopped the Absorption Rate from continuing to increase.
Metro-Calgary SFH Inventory Absorption Rate: 7.3 months (Jan 2008: 3.7 months, Dec 2008: 8.6 months)
Metro-Calgary Condo Iventory Absorption Rate: 8.5 months (Jan 2008: 4.2 months, Dec 2008: 9.1 months)
You’ll notice how the month-end inventory for January this year and last were almost exact (4040 VS 3997 for SFH, and 1923 VS 1926) even though new listings were down over 30%. The other major difference being, of course, the amount of sales and $ volume.
Airdrie sold 33 SFH’s, Averaging $353,009 with a median price of $355,000. Month-end inventory was 252, giving Airdrie a 7.6 Month Inventory Absorption Rate.
9 condos sold, leaving a month-end inventory was 60. (6.7 months absorption) Average Price: $227,100 Median: $215,000. (more detailed Airdrie statistics)
Chestermere recorded 5 SFH sales in the month of January, with a month-end inventory of 120. That brings the Inventory Absorption Rate to 24 months.
(Average price: $467,180 Median price: $433,900)
15 condos are listed but there were no sales in January. (more detailed Chestermere statistics)
Source for all statistics is CREB’s MLS Database. For official statistics, please visit WWW.CREB.COM