FEBRUARY CONTINUES TO DEMONSTRATE A COMPETITIVE MARKET Calgary, March 1, 2006 – Another strong month for MLS® sales for the month of February 2006 was recorded, according to figures released by the Calgary Real Estate Board.
February combined residential sales totaled 3,060, a 37.7 per cent increase over February 2005’s sales of 2,223, and a 27.1 per cent increase over January 2006’s sales of 2,408. The breakdown of the February combined sales was, 2,149 single-family residences, 905 condominium, and 6 mobile homes. February 2005 sales in the same categories were, 1,631; 584; and 8, respectively.
The average combined residential sale price for February 2006 was $304,560 a 26 per cent increase over February 2005, when the average price was $241,753, and a 5.3 per cent increase over January 2006’s average price of $289,130. Broken out, the following is a comparison of single-family, condominium, and mobile home average sale prices for the month of February 2006 over 2005: single-family $342,104 / $265,316; condominium $217,181 / $178,730; and mobile home $37,417 / $38,350.
Condominium sales in February picked up some more momentum and reached 905 sales compared to the 584 sales recorded in February 2005. This is a 55 per cent increase. The average condominium price in February 2006 was $217,181 compared to the $178,730 in February 2005; a 21.5 per cent increase.
February 2006 residential combined listings totaled 3,230, a 6.8 per cent decrease over February 2005’s listings of 3,464, however, showing a 8.4 per cent increase over last month’s 2,981 listings.
“The February real estate market continued to demonstrate the power of an open and competitive market; supplies remain limited and demand high resulting in increased prices and fast sales in many communities” explained CREB® President, Kevin Clark. “Despite the opportunity for many, we are not reading about the losers; if one chooses not to sell competitively or one buys without assistance the market can cost you a lot of money.”
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 for February 2006 was $267,900; up 24.6 per cent from February 2005, when the median price was $215,000 and up 5.1 per cent from last month’s median of $254,900.
The Calgary Real Estate Board is a professional body of 5,134 licensed brokers and registered agents, representing 256 member offices. | SINGLE FAMILY | 2006 | 2005 | 2006 YTD | 2005 YTD | %Change | | Average Sale Price | 342,104 | 265,316 | 333,490 | 265,570 | 25.58% | | Listings | 2,336 | 2,527 | 4,471 | 4,922 | -9.16% | | Sales | 2,149 | 1,631 | 3,907 | 2,802 | 39.44% | | Dollar Volume | 735,180,728 | 432,730,989 | 1,302,945,217 | 744,127,754 | 75.10% | | Sales to Listing Ratio | 92.00% | 64.54% | 87.39% | 56.93% | 53.50% | | Median Price | 306,000 | 235,000 | 298,000 | 235,000 | 26.81% | | | | CONDOMINIUM | | | | | | | Average Sale Price | 217,181 | 178,730 | 210,998 | 178,086 | 18.48% | | Listings | 875 | 907 | 1,706 | 1,945 | -12.29% | | Sales | 905 | 584 | 1,536 | 1,013 | 51.63% | | Dollar Volume | 196,548,584 | 104,378,530 | 324,093,307 | 180,401,371 | 79.65% | | Sales to Listing Ratio | 103.43% | 64.39% | 90.04% | 52.08% | 72.87% | | Median Price | 193,500 | 160,000 | 185,500 | 160,000 | 15.94% | | | | MOBILE | | | | | | | Average Sale Price (incl. in Residential) | 37,417 | 38,350 | 34,169 | 33,871 | 0.88% | | Listings (incl. in Residential) | 19 | 30 | 33 | 68 | -51.47% | | Sales (incl. in Residential) | 6 | 8 | 20 | 20 | 0.00% | | Dollar Volume (incl. in Residential) | 224,500 | 306,800 | 683,388 | 677,420 | 0.88% | | Sales to Listing Ratio (incl. in Residential) | 31.58% | 26.67% | 60.61% | 26.67% | 127.27% | | Median Price | 39,000 | 35,000 | 35,000 | 29,900 | 17.06% | | | | RURAL w/HOME | | | | | | | Average Sale Price | 696,867 | 485,744 | 641,851 | 514,330 | 24.79% | | Listings | 138 | 161 | 275 | 347 | -20.75% | | Sales | 83 | 59 | 138 | 103 | 33.98% | | Dollar Volume | 57,839,960 | 28,658,900 | 88,575,405 | 52,976,000 | 67.20% | | Sales to Listing Ratio | 60.15% | 36.65% | 50.18% | 29.68% | 69.06% | | Median Price | 546,000 | 420,000 | 515,000 | 444,000 | 15.99% | | | | RURAL LAND | | | | | | | Average Sale Price | 381,209 | 242,140 | 406,181 | 244,451 | 66.16% | | Listings | 56 | 56 | 117 | 104 | 12.50% | | Sales | 43 | 7 | 69 | 23 | 200.00% | | Dollar Volume | 16,392,000 | 1,694,981 | 28,026,488 | 5,622,381 | 398.48% | | Sales to Listing Ratio | 76.79% | 12.50% | 58.97% | 22.12% | 166.67% | | Median Price | 270,000 | 159,900 | 275,000 | 195,000 | 41.03% | | | | RESIDENTIAL COMBINED (Single Family, Condo, Mobile) | | | | | | | Average Sale Price | 304,560 | 241,753 | 297,954 | 241,253 | 23.50% | | Listings | 3,230 | 3,464 | 6,210 | 6,935 | -10.45% | | Sales | 3,060 | 2,223 | 5,463 | 3,835 | 42.45% | | Dollar Volume | 931,953,812 | 537,416,319 | 1,627,721,912 | 925,206,545 | 75.93% | | Sales to Listing Ratio | 94.74% | 64.17% | 87.97% | 55.30% | 59.08% | | Median Price | 267,900 | 215,000 | 262,500 | 215,000 | 22.09% | | | | TOTAL MLS® | | | | | | | Average Sale Price | 315,815 | 248,043 | 307,641 | 248,373 | 23.86% | | Listings | 3,424 | 3,681 | 6,602 | 7,386 | -10.61% | | Sales | 3,186 | 2,289 | 5,670 | 3,961 | 43.15% | | Dollar Volume | 1,006,185,772 | 567,770,200 | 1,744,323,805 | 983,804,926 | 77.30% | | Sales to Listing Ratio | 93.05% | 62.18% | 85.88% | 53.63% | 60.14% | | |
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