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December 2013

Found 2 blog entries for December 2013.

Average vs Median Sale Price

Why average sale price isn't a good indicator of property values

 Ever wonder why the media and real estate boards quote average prices rather than the median sale price of homes? The reason is because headlines with higher numbers grab far more attention.

Average and median home prices are usually very different. Sale prices aren't evenly distributed because there are large gaps in price between the least and most expensive homes. This price gap skews the average price even moreso in larger statistical groups such as the average home price of an entire city.

Fully two-thirds of all Calgary houses sold in November sold for less than the city's average sale price of $516,447. Only 1% of all Northeast Calgary homes sold for more than the average sale price for the entire city.

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Calgary Sales Increase 19%

Calgary real estate stats: November 2013

(December 1, 2013) Calgary residential property sales continued to outperform other markets in the country with a 19% increase in homes and condos sold in November.

Last month marked the 8th consecutive month with a year-over-year sale increase, with the highest number of November sales recorded in seven years *November 2006 had 15% more sales (1,995)*.

February & March have been the only months this year that Yr/Yr sales haven't increased, with both those months seeing only low single-digit differences.

Prices in both the Calgary home and condo segments were up 8% (median sale price vs November 2012). 

According to The Bank of Montreal, Calgary has the strongest major residential housing market in the

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