Buyers continue to have choice and affordability



    Calgary Metro housing resales at 550 in January

    CALGARY, Feb. 3 /CNW/ - MLS(R) sales activity of single family homes was
550 in the month of January 2009 showing an increase of 22 per cent from 449
sales in December 2008, according to figures released by the Calgary Real
Estate Board (CREB(R)). This was a decrease of 49 per cent from January 2008
when single family home sales were 1,083. The number of condominium sales for
the month of January 2009 was 225, an increase of 9.8 per cent from the 205
condominium transactions recorded in December 2008. This was a decrease of 50
per cent from January 2008 when 454 condominiums changed hands.
    "Indeed it is a tough market, but I am pleased to see sales picking up
this month over December. Although our numbers are down from January 2008, we
are seeing increased activity and more interest from buyers," said Calgary
Real Estate Board President, Bonnie Wegerich. "Buyers will continue to have
choice and affordability in this slower market," adds Wegerich.
    The average price of a single family Calgary metro home in January 2009
was $413,049, showing a decrease of 1 per cent from December 2008, when the
average price was $417,398, and showing a decrease of 9 per cent from January
2008 when the average price was $455,297. The average price of a Calgary metro
condominium was $270,940, showing a 1.4 per cent decrease from December 2008
when the average price was $274,919 and showing a decrease of 13 per cent over
last year, when the average price was $311,232. 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.
    Single family Calgary metro new listings added for the month of January
totaled 2,068, compared to 836 new listings added in December 2008. This is a
decrease of 32 per cent from January 2008, when new listings coming to the
market were 3,023. Calgary metro condominium new listings added in January
2009 were 941, compared to 431 new condominium listings added in December
2008. This is a decrease of 33 per cent from January 2008 when condominium
listings were 1,406.
    "While there's still a good selection of homes to choose from, we are
seeing a slow but steady decrease in our inventory," remarked Wegerich. "As
the inventory is reduced we will see a return to a more stable market."
    The median price of a single family Calgary metro home in January 2009
was $374,700, showing a decrease of 1.4 per cent from December 2008, when the
median price was $380,000 and down 8.6 per cent from January 2008 when the
median price was $410,000. The median price of a condominium in January 2009
was $243,000 down 4.3 per cent from December 2008 when the median was $254,000
and down 16 per cent from January 2008 when the median price was $290,000. All
Calgary Metro MLS(R) 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.
    "It is definitely challenging times out there. Sellers need to price
their homes competitively. But in talking to a number of REALTORS(R), I am
hearing that activity is picking up and there are buyers out there looking for
homes once again," said Wegerich.

    The Calgary Real Estate Board is a professional body of 5,488 licensed
brokers and registered associates, representing 252 Member offices. The Board
does not generate statistics or analysis of any individual member or company's
market share. All MLS(R) active listings for Calgary and area may be found on
the Board's website at www.creb.com.





For further information:

For further information: Jason Martin, Manager Communications at (403)
781-1345

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