Archive:
Calgary Real Estate Market Watch for October 2011*
| Residential Listings | |||||
| Listing Count |
Average List Price |
Median List Price |
Average DOM |
||
| Single Family Home Active Listings | 6,948 | $527,392 | $424,900 | 74.73 | |
| Condominium Active Listings | 2,639 | $320,048 | $268,000 | 74.27 | |
| Mobile Home Active Listings | 107 | $87,780 | $79,900 | 126.13 | |
| Combined Res. Active Listings | 9,694 | ||||
| Rural With Home | 1,191 | $1,104,232 | $799,900 | 124.91 | |
| Rural Land | 699 | $751,084 | $395,000 | 205.29 | |
| Total Rural | 1,890 | ||||
| Total MLS Active Listings | 11,584 | ||||
| Residential Sales | |||||||
| Sale Count |
Average Sale Price |
Median Sale Price |
Average DOM |
Sale Price to List Price Ratio |
|||
| Single Family Home Sales | 1,239 | $440,822 | $385,000 | 58.67 | 96.64% | ||
| Condominium Sales | 414 | $279,304 | $258,750 | 57.99 | 96.38% | ||
| Mobile Home Sales | 7 | $49,057 | $31,500 | 115.00 | 92.36% | ||
| Combined Residential Sales | 1,660 | ||||||
| Rural With Home | 58 | $969,990 | $648,750 | 107.45 | 94.23% | ||
| Rural Land | 21 | $371,614 | $385,000 | 195.95 | 90.05% | ||
| Total Rural Sales | 79 | ||||||
| Total MLS Sales | 1,739 | ||||||
The average1 price of a Single Family Calgary Metro Home was $455,399, showing a 2.35% increase from last year.
The median2 price of a Single Family Calgary Metro Home was $395,000, showing a 1.54% increase from last year.
The average1 price of a Calgary Metro Condominium was $282,903, showing a 1.70% decrease from last year.
The median2 price of a Calgary Metro Condominium was $262,625, showing a 2.39% increase from last year.
The Absorption Rate for Real Estate is the ability of the real estate market to sell all of the listed houses for sale in a given amount of time. The number shows the rate at which the inventories of homes for sale are being sold. A declining figure indicates people the inventory is decreasing as more homes are being sold than are coming onto the market. A rising absorption rate implies that there are more homes coming onto the market than there are buyers willing to buy at the market prices. The ultimate question the absorption rate answer is, "Is the current inventory level shrinking or growing"?
When is the Proper Time to Buy or Sell Real Estate - by B. Lotfi
One of the most important elements that will always affect the market price is called the power of supply and demand. Both of these elements are affected by political and economical elements in your area and this may lead to a change in form of market price.To gain on an investment, you need to be aware of possible market price changes before everyone else. This is where reliable statistics and a knowledgeable Realtor can help you reach your goal. While keeping yearly trends in mind, you should look at statistics from the past few months in the sectors, such as listings(supply) and sales(demand), which can affect your decision. These statistics and the yearly trends may show you what the market is expected to be in the near future. Also, you should be aware of the political and economical events that are occurring in your area as these may alter the current month’s stats. Investments almost always involve some degree of risk. For more information call me at (403)891-2345 or email me at bruce@brucelist.com