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Calgary prices back to 2008 levels: March 2010 Calgary Stats

Posted by Jim Sparrow on Friday, April 2nd, 2010 at 9:05pm.

Calgary home prices 2009-2010

Statistics for the month of March 2010 show the Calgary real estate market is back on track with sales figures & average house prices nearly the same as 2 years ago *March 2008 number of Calgary home sales 1,418 vs 1,396 March 2010; March 2008 Avg Sale Price $474,513 vs $471,268 March 2010*. I don’t believe comparisons with the first half of 2009 have much relevance as the market numbers were skewed by the worldwide recession.

March 2010 Calgary Real Estate Stats

 

Mar 2010

vs Mar 09

vs Mar 08

vs Mar 07

 Calgary house sales

 1,396

1,086 (+1%)

 1,418 (-2%)

 2,272 (-39%)

 Avg house price

 $471,269

 $420,354(+12%)

 $474,513(-1%)

$479,914(-2%)

 Days on market: house

 33

 48 (-31%)

 48 (-31%)

24 (+38%)

 Calgary condo sales

 609

 446 (+37%)

 565 (+8%)

1,026(-41%)

 Avg condo price

 $296,660

 $284,056(+4%)

 $312,620(-5%)

$312,280(-5%)

 Days on market: condo

 39

 56 (-30%)

 43 (-9%)

24 (+63%)

 Total Calgary Sales

 2,005

 1,532 (+31%)

 1,983 (1%)

3,298 (-39%)

The Calgary condo market hasn't fared quite as well looking back 2-3 years, and with many new Calgary condos coming onto the market over the next 12 months, this sector will continue to be challenged by over-supply.

While my crystal ball is no more effective than yours, I’d be surprised if Calgary house prices don’t continue to show strength through the next quarter. Spring and early summer markets are historically the strongest part of the year for Calgary real estate sales, both in terms of sale price and number of properties sold. That being said, metro Calgary listings *inventory* continues to build. Currently there are 6,300 Calgary real estate listings, the equivalent of 3.1 months of inventory. Growing inventory (supply) will help keep price increases in check as we move through the busy April - July phase of the market.

Calgary House Price historical

You can find all Calgary real estate statistics on our website *CREB's monthly summary of the Calgary real estate market - pdf format*

Upsizing? Downsizing? Moving to the city? View all new Calgary real estate listings each day

If you're looking to sell or buy, do not hesitate to contact us.

We are prepared to work hard ensuring that your needs are met and that the result is more than you were hoping for. Nothing gives us more pleasure than your success and being with you through major life changes.

3 Responses to "Calgary prices back to 2008 levels: March 2010 Calgary Stats"

Jennifer Mackay wrote: That's great news Jim - hopefully you can take advantage of your recovering market.

Hopefully, we'll my market area of Panama City, Florida regain our sales prices.

We're seeing signs of increased pricing, but we're not there yet.

Best wishes

Posted on Saturday, April 3rd, 2010 at 6:11am.

Jim Sparrow wrote: Sorry for the delay posting / responding Jennifer & Jesse, I somehow didn't see your post. I know how challenging things have been in your area, but it appears many parts of the USA are close to turning the corner. Be well!

Posted on Saturday, April 10th, 2010 at 5:23pm.

Dan Statlander wrote: Enjoyed reading this post.

Dan Statlander
http://www.statelandbrown.com
(Real estate experts in Boca Raton Florida)

Posted on Monday, May 2nd, 2011 at 1:55am.

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