Buyers enjoy golden opportunity

    CALGARY, Oct. 1 /CNW/ - Properties continue to change hands in Calgary at
a respectable rate, despite high inventory numbers, according to figures
released by the Calgary Real Estate Board (CREB(R)).
    Single family Calgary metro sales for September 2007 were 1,064, a
decrease of 10.81 per cent from the 1,193 sales recorded in September 2006 and
a decrease of 19.03 per cent from the 1,314 sales recorded in August.
    Single family Calgary metro new listings added for the month of September
totaled, 3,106, a 5.15 per cent increase over the 2,954 new listings added in
September 2006. This is an increase of 9.48 per cent over the 2,837 new
listings added in August 2007.
    The median price of a single family Calgary metro home in September 2007
was $420,500 showing a 9.68 per cent increase over September 2006, when the
median price was $383,388 and showing a 2.21 per cent decrease from August
when the median price was $430,000. 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.
    Calgary metro condominium new listings added in September were 1,315,
showing an increase of 10.88 per cent from the 1,186 new listings added in
August. This is a 16.47 per cent increase from the 1,129 new listings coming
to market in September 2006. Calgary metro condominium sales in September 2007
were 483; a decrease of 12.66 per cent from September 2006, when the sales
were recorded as 553 and a 19.23 per cent decrease from the 598 condominium
sales recorded in August 2007.
    "This is an excellent opportunity for buyers to purchase their dream home
because of the wide selection of homes available in the Calgary and area
marketplace," says Calgary Real Estate Board President, Ron Stanners. "Single
Family Calgary Metro Sales declined 19.03 per cent from August sales, however,
sales year-to-date are still marginally ahead of 2006 as of the end of
September. The median price has dropped from $430,000 in August to $420,500 in
September; a decline of 2.21%. Overall sales remain steady and we expect the
market to remain steady through the balance of the year."
    The average price of a single family Calgary metro home in September 2007
was $470,888, and the average price of a metro condominium was $321,614.
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 5,710 licensed
brokers and registered associates, representing 258 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

For further information:

For further information: Ron Stanners, CREB(R) President, at (403)
253-5678; Ron Esch, Executive Vice President, at (403) 781-1308

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