Team Hripko Hazy Crystal Ball
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In keeping with tradition, the Crystal Ball takes the summer off and returns in the fall with insights and observations on all things real estate.
Enjoy the detailed statistics that follow and email me at john@ripco.ca to let me know if you would like any additional insight on everything Real Estate related.
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Mortgage Trends Cool Calgary Sales
Calgary, July 2, 2010 – Calgary home sales continued to show a marked year-over-year decline in the month of June, according to figures released today by the Calgary Real Estate Board (CREB®).
The number of single family homes sold in June 2010 in the city of Calgary was down 42 per cent from the same time a year ago, and condominium sales saw a decrease of 40 per cent from the same time a year ago.
June 2010 saw 1,061 single family homes sold in the city of Calgary. This is a decrease of 16 per cent from 1,262 sales in May 2010. In June 2009, single family home sales totaled 1,837. The number of condominium sales for the month of June 2010 was 445. This was a decrease of 14 per cent from the 518 condominium transactions recorded in May 2010. In June 2009, condominium sales were 738.
Conversely, sales of million-dollar-plus properties jumped by nearly 42 per cent year-to-date until the end of June, compared with the same period a year ago. In the first six months of this year, 187 single-family homes in the city of Calgary sold for $1 million or more, compared with 132 in 2009.
The average price of a single family home in the city of Calgary in June 2010 was $481,964, showing no significant change from May 2010, when the average price was $483,240, and showing an increase of 8 per cent from June 2009, when the average price was $447,142. The average price of a condominium in the city of Calgary was $292,238, showing a 4 per cent decrease from May 2010, when the average price was $304,662 and a 2 per cent increase over last year, when the average price was $285,595. Average price information can be useful in establishing trends over time, but does not indicate actual prices in centres comprised of widely divergent neighbourhoods, or account for price differentials between geographical areas.
The median price of a single family home in the city of Calgary for June 2010 was $418,900, showing no significant change from May 2010, when the median price was $420,000, and a 5 per cent increase from June 2009, when the median price was $399,000. The median price of a condominium in June 2010 was $269,900,
showing a 4 per cent decrease from May 2010, when the median was $279,900. That’s up 2 per cent from June 2009, when the median price was $265,500.
All city of Calgary MLS® statistics include properties listed and sold only within Calgary’s city limits. The median price is the price that is midway between the least expensive and most expensive home sold in an area during a given period of time. During that time, half the buyers bought homes that cost more than the median price and half bought homes for less than the median price.
Single family listings in the city of Calgary added for the month of June totaled 2,733, a decrease of 8 per cent from May 2010 when 2,966 new listings were added, and showing an increase of 22 per cent from June 2009, when 2,244 new listings came to the market. Condominium new listings in the city of Calgary added for June 2010 were 1,084, down 11 per cent from May 2010, when the MLS® saw 1,221 condo listings coming to the market. This is an increase of 17 per cent from June 2009, when new condominium listings added were 927.
For specific pricing and trends in your neighborhood, call any member of the Ripco Real Estate Team locally at 403-245-4477 or toll free in North America at 800-741-5741 or go to http://www.ripco.ca/evaluations.html and complete the online form.
Statistics courtesy of the Calgary Real Estate Board
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This entry was posted on July 14th, 2010 by Hanney Nelson Real Estate Group | Posted in General
