Calgary, October 2, 2006 – MLS® sales took a slight dip in September from last month sales, but new listings coming to the market showed an increase over last month, according to figures released by the Calgary Real Estate Board (CREB®).
September combined residential sales totaled 2,180, showing a 13.35 per cent decrease from last month's sales of 2,516 and showing a decrease of 17.46 per cent from September 2005 when the sales were recorded at 2,641, the highest September recorded on the MLS®. The following shows the breakdown of the September combined sales; 1,493 single-family residences, 667 condominium, and 20 mobile homes. September 2005 sales in the same categories were, 1,891, 731, and 19, respectively.
The average combined residential sale price for September 2006 was $369,928, showing a 45.64 per cent increase over September 2005, when the average price was $253,995, and a 1.15 per cent increase over last month's average price of $365,732. Broken out, the following is a comparison of single-family, condominium, and mobile home average sale prices for the month of September 2006 over 2005: single-family $410,326 / $283,523; condominium $288,676 / $183,217; and mobile home $64,025 / $38,381.
September 2006 residential combined listings totaled 4,783. This is a 47.17 per cent increase over September 2005, when 3,250 new listings came to market and showing an 11.99 per cent increase over the 4,271 homes listed in August.
Condominium sales saw a decrease with 667 units changing hands. Sales for condominiums for the same period last year were 731 showing a decrease of 8.76 per cent and a decrease of 17.86 per cent from last month's 812 sales. The average condominium sale price in September 2006 was $288,676, a record high for condominiums recorded on the MLS®, compared to the $183,217 in September 2005 showing a 57.56 per cent increase and a 4.39 per cent increase over the August average sale price of $276,536.
"With absorption inventories now exceeding three months supply we have, for the time being, left the booming market far behind," says CREB® President, Kevin Clark. "Sellers needing to sell in 2006 should consult carefully with their REALTOR® to price their property competitively for a successful sale. Buyers, on the other hand, would probably be wise not to become too cavalier about this temporary situation, because they may once again pay more next year."
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 September 2006 was $333,000; up 48.99 per cent from September 2005, when the median price was $223,500 and up 1.52 per cent from the median price in August of $328,000.
The Calgary Real Estate Board is a professional body of 5,346 licensed brokers and registered agents, representing 258 Member offices.
| SINGLE FAMILY | 2006 | 2005 | 2006 YTD | 2005 YTD | %Change | | Average Sale Price | 410,326 | 283,523 | 381,004 | 273,917 | 39.09% | | Listings | 3,497 | 2,330 | 26,068 | 23,701 | 9.99% | | Sales | 1,493 | 1,891 | 18,582 | 17,594 | 5.62% | | Dollar Volume | 612,616,312 | 536,141,419 | 7,079,819,935 | 4,819,303,773 | 46.91% | | Sales to Listing Ratio | 42.69% | 81.16% | 71.28% | 74.23% | -3.97% | | Median Price | 373,000 | 249,000 | 346,815 | 244,000 | 42.14% | | | | CONDOMINIUM | | | | | | | Average Sale Price | 288,676 | 183,217 | 255,396 | 181,538 | 40.68% | | Listings | 1,268 | 893 | 9,676 | 8,886 | 8.89% | | Sales | 667 | 731 | 7,734 | 6,700 | 15.43% | | Dollar Volume | 192,546,611 | 133,931,268 | 1,975,233,059 | 1,216,306,177 | 62.40% | | Sales to Listing Ratio | 52.60% | 81.86% | 79.93% | 75.40% | 6.01% | | Median Price | 262,000 | 164,850 | 238,600 | 162,000 | 47.28% | | | | MOBILE | | | | | | | Average Sale Price (incl. in Residential) | 64,025 | 38,381 | 49,166 | 38,936 | 26.27% | | Listings (incl. in Residential) | 18 | 27 | 191 | 292 | -34.59 | | Sales (incl. in Residential) | 20 | 19 | 173 | 127 | 36.22% | | Dollar Volume (incl. in Residential) | 1,280,500 | 729,240 | 8,505,688 | 4,944,830 | 72.01% | | Sales to Listing Ratio (incl. in Residential) | 111.11% | 70.37% | 90.58% | 70.37% | 28.71% | | Median Price | 60,000 | 37,000 | 43,000 | 35,000 | 22.86% | | | | RURAL w/HOME | | | | | | | Average Sale Price | 596,247 | 492,789 | 672,624 | 500,494 | 34.39% | | Listings | 184 | 152 | 1,505 | 1,525 | -1.31% | | Sales | 73 | 75 | 872 | 782 | 11.51% | | Dollar Volume | 43,526,000 | 36,959,180 | 586,527,891 | 391,386,274 | 49.86% | | Sales to Listing Ratio | 39.67% | 49.34% | 57.94% | 51.28% | 12.99% | | Median Price | 567,500 | 455,000 | 580000 | 440,000 | 31.82% | | | | RURAL LAND | | | | | | | Average Sale Price | 731,137 | 248,272 | 525,749 | 295,913 | 77.67% | | Listings | 85 | 70 | 634 | 538 | 17.84% | | Sales | 30 | 39 | 357 | 260 | 37.31% | | Dollar Volume | 21,934,100 | 9,682,600 | 187,692,481 | 76,937,469 | 143.95% | | Sales to Listing Ratio | 35.29% | 55.71% | 56.31% | 48.33% | 16.52% | | Median Price | 460,000 | 187,250 | 300,500 | 189,000 | 58.99% | | | | RESIDENTIAL COMBINED (Single Family, Condo, Mobile) | | | | | | | Average Sale Price | 369,928 | 253,995 | 342,163 | 247,351 | 38.33% | | Listings | 4,783 | 3,250 | 35,935 | 32,879 | 9.29% | | Sales | 2,180 | 2,641 | 26,489 | 24,421 | 8.47% | | Dollar Volume | 806,443,423 | 670,801,927 | 9,063,558,682 | 6,040,554,780 | 50.05% | | Sales to Listing Ratio | 45.58% | 81.26% | 73.71% | 74.28% | -0.76% | | Median Price | 333,000 | 233,500 | 310,000 | 220,000 | 40.91% | | | | TOTAL MLS® | | | | | | | Average Sale Price | 381,911 | 260,415 | 354,924 | 255,621 | 38.85% | | Listings | 5,052 | 3,472 | 38,074 | 34,942 | 8.96% | | Sales | 2,283 | 2,755 | 27,718 | 25,463 | 8.86% | | Dollar Volume | 871,903,523 | 717,443,707 | 9,837,779,054 | 6,508,878,523 | 51.14% | | Sales to Listing Ratio | 45.19% | 79.35% | 72.80% | 72.87% | -0.10% | | |
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