November 2011 Calgary Real Estate Statistics

According to figures released today by CREB®, November SFH sales increased 8% over last year to reach a total of 962.  Year-to-date, there has been a +9.74% increase of sales from 2010.   Even with the y/y increase, sales still remain below the 10 year average level.

(click to enlarge image)

Average prices were up 3.31% from last November to $470,665 while the median increased 0.76% to $402,925.

SFH Y/Y Price Change (click to enlarge)

SFH Y/Y Price Ranges (click to enlarge)

The condo segment also saw a y/y increase in sales, up +26.77% to 393. However, prices took a hit with the average price falling nearly -4% to $273,356 and the median down -1.63% to $250,000.   That’s the lowest average and median price since February 2009.

Condo Y/Y Price Change (click to enlarge)

Condo Y/Y Price Range (click to enlarge)

4 responses to “November 2011 Calgary Real Estate Statistics

  1. Again, drop out the over $1MM sales and the median price drops significantly. Of course doing this kind of reporting is unthinkable.

  2. Lol – I guess it’s unthinkable because it’s an inaccurate and biased sample if we do that Cory

  3. Cory, without any $1M+ sales in November the SFH median price would be $395,000 instead of $402,925. Doing the same to November 2010’s sales, we would get a median of $394,000 instead of $399,900.

    This translates to a 0.25% y/y increase in November instead of a 0.76%

    Remember, in calculating the median price, every sale has the same weight. It’s the average price that’s skewed a lot more by high and low sales.

  4. Cory, your probably thinking about the average or the mean price, here is some basic math: you take 4 condos at 220k, 220k, 220k, and 1020k; the average price would be 420k, the median would be 220k; you take away the $1.02M condo and your mean is now 220k, and your median is still 220k. The average price is never a good indication of the actual price of the house or the condo, unless we are talking in the same neighborhood and the same type of property. So besically these average numbers are useless unless they work to your advantage, and in the case of CREB they make it seem like house prices are actually higher.

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