September 1-14, 2012 Calgary Real Estate Update

Now that we have another full week of data to do a proper year-over-year comparison, we see that single family home sales are up to 523 which is an increase of +14.69% from last September.  Meanwhile, condo sales are up +5.5% y/y.

Sales Summary for September 1-14

Which method of pricing do you prefer to track?  If it’s the average price, then SFH prices in the first 2 weeks of September are down -3.36%, from $472,675 to $456,801.  Condo average prices are down -1.75%

If you give more credence to the median price, then SFH prices are up  +3.17% from $402,250 to $415,000.  Condo median prices are up +5.3%

What is the main reason the average price is exhibiting a negative price change? It can most easily be answered by looking at the luxury sales chart below:

Luxury Sales for September 1-14 (click to enlarge)

Just as an exercise if we were to remove all the single family home sales that sold for $1m or more, the average price month-to-date in September 2011 would have been $431,914.   This month the average price would be $437,047.

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Questions? Ready to buy or sell real estate? I can be contacted at or 403-554-2284

One response to “September 1-14, 2012 Calgary Real Estate Update

  1. the “mean” in meaningless, the “median” is much more useful

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