What's Happening in Calgary's Real Estate Market in February 2009
(Comparison to the previous 3 months)
| Single Family Homes | February 2009 | January 2009 | December 2008 | November 2008 |
| Median Price | 375,000 | 413,049 | 380,000 | 387,300 |
| Average Sale Price | 415,568 | 374,700 | 417,398 | 435,471 |
| Number of New Listings | 2,057 | 2,068 | 836 | 1,567 |
| Number of Sales | 825 | 550 | 449 | 670 |
The following information is from the Calgary Real Estate Board
Calgary, March 2, 2009 – The average price of a single family Calgary metro home in February 2009 was$415,568, showing an increase of 0.6 per cent from January 2009, when the averageprice was $413,049 and showing a decrease of 12 percent from February 2008 when the average price was $471,696. The average price of a Calgary metro condominium was $268,971, showing a 0.7 per cent decrease from January 2009 when the average price was $270,940 and showing a decrease of about 13 per cent over last year, when the average price was $311,812. 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.
“Affordability is the silver-lining in this market. With low interest rates, broad selection and improved affordability, buying opportunities have not been this strong in years,” said Wegerich. “And this is good news particularly for
“First time home buyers can take advantage of improved affordability along with the federal government’s First-Time Home Buyers Tax Credit and new increases to the Home Buyers’ Plan.
Single family Calgary metro new listings added for the month of February totaled 2,057, down just 0.5 per cent from the 2,068 new listings added in January 2009 and showing a decrease of 31 per cent from February 2008, when new listings coming to the market were 2,981. Calgary metro condominium new listings added in February 2009 were 892 down 5.2 per cent from January 2009 when the MLS® saw 941 condo listings coming to the market. This is a decrease of 28 per cent from February 2008 when condominium listings were 1,244.
The median price of a single family Calgary metro home in February 2009 was $375,000, showing an increase of 0.1 per cent from January 2009, when the median price was $374,700 and down 12 per cent from February 2008 when the median price was $428,000. The median price of a condominium in February 2009 was $249,900 up 3 per cent from January when the median was $243,000 and down 15 per cent from February 2008 when the median price was $295,000. All Calgary Metro MLS® statistics include properties listed and sold only within Calgary’s City limits. The median price is the price that is midway between the least expensive and most expensive home sold in an area during a given period of time. During that time, half the buyers bought homes that cost more than the median price and half bought homes for less than the median price.
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