The market remains steady during the month of June



    CALGARY, July 2 /CNW/ - Calgary's MLS(R) market remains steady with a
slight increase in metro single family and condominium sales over last month,
which may indicate that more homes are being priced to fit the current market
conditions.
    Single family Calgary metro new listings added for the month of June
totaled 2,787, a decrease of 15.9 per cent from June 2007 when new listing
added totaled 3,313 and a decrease of 18.8 per cent from last month, when new
listings coming to the market were 3,432. Calgary metro condominium new
listings added in June 2008 were 1,234, showing a slight decrease of 1.5 per
cent from the 1,253 new condominium listings added in June 2007 and a decrease
of 19.8 per cent from last month's condominium listings of 1,538.
    Single family Calgary metro sales for the month of June came in at 1,439,
showing a decrease of 18.1 per cent from the 1,757 sales in June 2007 but
showing an increase of 5.2 per cent from last month's sales of 1,368.
Condominium sales for the month of June were 556, a decrease of 29.8 per cent
from the 792 condominium sales recorded in June 2007 and showing a slight
decrease of 3.6 percent over the 577 condominiums changing hands in May 2008.
    At this mid-point in the year, Calgary metro single family new listings
added year-to-date were 19,086, an increase of 7.7 per cent from the 17,723
new listings added during the first half of 2007. Respectively, Condominium
new listings added were 8,473 an increase of 23.1 per cent over the 6,884 new
condominium listings added at the mid-point in 2007.
    Sales year-to-date for Single family Calgary metro were recorded as
7,902, a decrease of 31.4 per cent from the 11,526 sales recorded in 2007.
Calgary metro Condominiums changing hands during the first half of 2008
totaled 3,286 a decrease of 36.4 per cent over the 5,170 sales recorded in
2007. If we look at the average price year-to-date, there is very little
change in single family and condominium Calgary metro. The Single family
average price for the first half of 2008 was $472,163 and in 2007 for the same
period, it was $471,218, a difference of just 0.2 per cent. Respectively, the
condominium average price was $312,460 this year and $314,851 last year, down
just 0.8 per cent.
    "The Calgary metro month end inventory number has decreased slightly and
the Calgary metro sales numbers have increased over last month. That tells me
that perhaps sellers are listening to their REALTORS(R) and pricing their
homes with today's market in mind. We're seeing the sales numbers reflect that
more buyers are finding a home that fits their family's needs. As we move into
the summer months, it's an excellent time for buyers to capitalize on the wide
selection of homes, rather than waiting for the fall when things start to pick
up again," remarked CREB(R) President, Ed Jensen.
    The median price of a single family Calgary metro home in June 2008 was
$408,000 showing a decrease of 7.1 percent over June 2007, when the median
price was $439,000 and showing a decrease of 2.6 per cent from last month when
the median price was $419,000. 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.
    The average price of a single family Calgary metro home in June 2008 was
$473,774, showing a decrease of 4.7 per cent from June 2007, when the average
price was $496,890. The average price of a Calgary metro condominium was
$315,042, showing a 2.5 per cent decrease from June 2007 when the average
price was $323,269. 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.

    The Calgary Real Estate Board is a professional body of 5,767 licensed
brokers and registered associates, representing 262 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: Stacey Hatcher, Manager Communications at (403)
781-1345

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