MARCH 2006 CLOSES WITH THE HIGHEST RECORD OF SALES IN MLS® HISTORY Calgary, April 4, 2006 – MLS® sales broke all time records in the month of March 2006, according to figures released by the Calgary Real Estate Board.
March combined residential sales totaled their highest ever at 3,497, an 18.1 per cent increase over March 2005’s sales of 2,962, and a 14.3 per cent increase over February 2006’s sales of 3,060. The breakdown of the March combined sales was, 2,486 single-family residences, 995 condominium, and 16 mobile homes. March 2005 sales in the same categories were, 2,163; 786; and 13, respectively.
The average combined residential sale price for March 2006 was $325,481 a 30 per cent increase over March 2005, when the average price was $250,360, and a 6.9 per cent increase over February 2006’s average price of $304,560. Broken out, the following is a comparison of single-family, condominium, and mobile home average sale prices for the month of March 2006 over 2005: single-family $363,370 / $276,808; condominium $235,427 / $181,037; and mobile home $38,650 / $41,094.
Condominium sales also broke all time MLS® sales records with 995 sales changing hands. Sales for condominiums for the same period last year were 786 showing a 26.6 per cent increase. The average condominium price in March 2006 was $235,427 compared to the $181,037 in March 2005; a 30 per cent increase and an 8.4 per cent increase over February’s average price of $217,181.
March 2006 residential combined listings totaled 3,949, a 5.1 per cent decrease from March 2005, when 4,163 listings came to market but showing a 22.3 per cent increase over February’s 3,230 listings.
“The incredible sales level of the first quarter is a graphic demonstration of the professional capability of Calgary REALTORS, showing their ability to provide purchasing opportunities for such a high number of Calgarians, under challenging circumstances”, remarked CREB® President, Kevin Clark. "Only our members of the Calgary Real Estate Board have full access to the Multiple Listing Service (MLS®); a very powerful service providing sellers the broadest possible exposure of their real estate and buyers the widest opportunity of accurate and up to date real estate information”, continued Clark.
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 is determined by selecting the middle number of total sale prices – the combined residential median price for March 2006 was $285,000; up 29.6 per cent from March 2005, when the median price was $220,000 and up 6.4 per cent from February’s median of $267,900.
The Calgary Real Estate Board is a professional body of 5,156 licensed brokers and registered agents, representing 258 member offices. | SINGLE FAMILY | 2006 | 2005 | 2006 YTD | 2005 YTD | %Change | | Average Sale Price | 363,370 | 276,808 | 345,116 | 270,466 | 27.60% | | Listings | 2,895 | 3,036 | 7,363 | 7,958 | -7.48% | | Sales | 2,486 | 2,163 | 6,388 | 4,965 | 28.66% | | Dollar Volume | 903,338,861 | 598,736,188 | 2,204,598,078 | 1,342,863,942 | 64.17% | | Sales to Listing Ratio | 85.87% | 71.25% | 86.76% | 62.39% | 39.06% | | Median Price | 325,000 | 245,900 | 309,900 | 239,900 | 29.18% | | | | CONDOMINIUM | | | | | | | Average Sale Price | 235,427 | 181,037 | 220,437 | 179,375 | 22.89% | | Listings | 1,028 | 1,091 | 2,735 | 3,036 | -9.91% | | Sales | 995 | 786 | 2,528 | 1,799 | 40.52% | | Dollar Volume | 234,249,607 | 142,294,911 | 557,264,914 | 322,696,282 | 72.69% | | Sales to Listing Ratio | 96.79% | 72.04% | 92.43% | 59.26% | 55.99% | | Median Price | 212,900 | 159,000 | 557,264,914 | 322,696,282 | 72.69% | | | | MOBILE | | | | | | | Average Sale Price (incl. in Residential) | 38,650 | 41,094 | 36,161 | 36,717 | -1.51% | | Listings (incl. in Residential) | 26 | 36 | 58 | 104 | -44.23% | | Sales (incl. in Residential) | 16 | 13 | 36 | 33 | 9.09% | | Dollar Volume (incl. in Residential) | 618,400 | 534,226 | 1,301,788 | 1,211,646 | 7.44% | | Sales to Listing Ratio (incl. in Residential) | 61.54% | 36.11% | 62.07% | 36.11% | 71.88% | | Median Price | 28,900 | 27,000 | 32,000 | 28,900 | 10.73% | | | | RURAL w/HOME | | | | | | | Average Sale Price | 553,122 | 524,484 | 602,026 | 519,093 | 15.98% | | Listings | 146 | 179 | 421 | 526 | -19.96% | | Sales | 116 | 91 | 253 | 194 | 30.41% | | Dollar Volume | 64,162,193 | 47,728,050 | 152,312,598 | 100,704,050 | 51.25% | | Sales to Listing Ratio | 79.45% | 50.84% | 60.10% | 36.88% | 62.94% | | Median Price | 535,000 | 460,000 | 519,900 | 448,800 | 15.84% | | | | RURAL LAND | | | | | | | Average Sale Price | 323,809 | 249,600 | 374,556 | 247,323 | 51.44% | | Listings | 59 | 69 | 176 | 173 | 1.73% | | Sales | 43 | 29 | 112 | 52 | 115.38% | | Dollar Volume | 13,923,775 | 7,238,400 | 41,950,263 | 12,860,781 | 226.19% | | Sales to Listing Ratio | 72.88% | 42.03% | 63.64% | 30.06% | 111.71% | | Median Price | 233,700 | 200,000 | 250,000 | 199,900 | 25.06% | | | | RESIDENTIAL COMBINED (Single Family, Condo, Mobile) | | | | | | | Average Sale Price | 325,481 | 250,360 | 308,665 | 245,222 | 25.87% | | Listings | 3,949 | 4,163 | 10,156 | 11,098 | -8.49% | | Sales | 3,497 | 2,962 | 8,952 | 6,797 | 31.71% | | Dollar Volume | 1,138,206,868 | 741,565,325 | 2,763,164,780 | 1,666,771,870 | 65.78% | | Sales to Listing Ratio | 88.55% | 71.15% | 88.15% | 61.25% | 43.92% | | Median Price | 285,000 | 220,000 | 272,000 | 217,900 | 24.83% | | | | TOTAL MLS® | | | | | | | Average Sale Price | 332,684 | 258,446 | 317,423 | 252,781 | 25.57% | | Listings | 4,154 | 4,411 | 10,753 | 11,797 | -8.85% | | Sales | 3,656 | 3,082 | 9,317 | 7,043 | 32.29% | | Dollar Volume | 1,216,292,836 | 796,531,775 | 2,957,427,641 | 1,780,336,701 | 66.12% | | Sales to Listing Ratio | 88.01% | 69.87% | 86.65% | 59.70% | 45.13% | | |
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