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Calgary Real Estate Stats: October 2011

Posted by Jim Sparrow on Wednesday, November 2nd, 2011 at 8:55am.

Calgary Real Estate: October 2011 Market Review

Calgary Real Estate Market Stats - October 2010

  •  SF Calgary MLS® sales for the month of October 2011 showed an 11.5% increase over October 2010.
  • Average sale price for Calgary homes was $455,247, a 2.3% increase over Oct 2010.
  • Median sale price for Calgary homes was $395,000, a 1.5% increase over Oct 2010.
  • Average days on market (DOM) for SF Calgary home sales in October was 52 days
  • Calgary MLS® condo sales also were much stronger, with 20.2% more condo units selling last month vs October 2010.
  • Average sale price for Calgary condos was $282,743, a 1.8% decrease over from Oct 2010
  • Median sale price for Calgary condos rose 2.0% from the October 2010 level
  • Average days on market (DOM) for Calgary condos was 57 days

 Calgary Real Estate Prices: October 2011 

Calgary metro real estate stats October 2011

Calgary Real Estate Market Outlook

The Calgary real estate market has shown tremendous resilience over the past 3 years while the world economy has floundered. Even now, with the ongoing Greek (Euro) debt crisis and sputtering US economy, Calgary homes prices have recovered most of the value lost since September 2008. Oil is currently trading @ over $90 a barrel despite the slowdown in the world economy. As the difficulties associated with the economic crisis are resolved, Calgary property appreciation will outpace the national numbers.

Calgary real estate sales volume for last month (units sold) was higher than October 2010, with SF average sale price increasing 2.3% and median SF price rising by 1.5%. While Calgary condo sales were also significantly higher (20.2%) compared to Oct 2010, average condo sale price dropped by nearly 2% while median price of condos rose by the same percentage.

November to February are historically a slower period for Calgary real estate, especially once the cold & snow arrive. Throw in the geo-political aspects and there are likely to be some periods of weakness over the next 4 - 6 months. The opportunity to buy on dips will present itself. Keep in mind that Calgary real estate is a long-term investment vehicle, and ultra-low interest rates we've all become used to will some day be only a distant memory.

Recent Articles on Calgary Real Estate 

Calgary Real Estate Board (CREB): Calgary Real Estate Stats - CREB 

Calgary Real Estate Board (CREB): Calgary SF Sales by district - October 2011

Calgary Real Estate Board (CREB): Calgary Condo Sales by district - October 2011

Calgary Herald: Strong Job Growth in Alberta

Calgary Herald: Calgary Luxury Home Sales Soaring this Year

Living in Calgary: Calgary Property Assessment: Fact or Fiction? 

Calgary Herald: Calgary Housing Market Poised to Show Strong Price Growth

As always, your thoughts & comments are welcomed!


We'd be happy to discuss this or answer any questions on Calgary real estate - please feel free to contact me below, or if you'd like to chat with me page me directly through Royal LePage Solutions @ 403-252-5900

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.

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