MLS(R) market shows balance

    CALGARY, June 4 /CNW/ - Calgary's MLS(R) Sales and Listings for the month
of May 2007, show a more balanced market for the first time since the Spring
of 2006, according to figures released by the Calgary Real Estate Board
    Single family Calgary metro new listings added for the month of May
totaled 3,652, a healthy 47.44 per cent increase over the 2,477 new listings
added in May 2006. This is also an increase of 17.81 per cent over the 3,100
new listings added in April 2007.
    Single family Calgary metro properties changing hands in May were 1,995,
a decrease of 2.21 per cent from the 2,040 recorded in May 2006 and a decrease
of 4.36 per cent from the 2,086 sales recorded last month.
    The average price of a single family Calgary metro home in May 2007 was
$487,523 showing a 17.25 per cent increase over May 2006, when the average
price was $415,815 and showing a 2.80 per cent increase from last month when
the average price was $474,250. These average price figures reflect the
changes made from extracting mobile homes and condominiums from the previously
reported category, Residential Combined. All Calgary Metro MLS(R) statistics
include properties listed and sold only within Calgary's City limits.
    CREB(R) President, Ron Stanners says, "The Calgary Real Estate Board is
committed to reporting the most useful MLS(R) statistical information as
possible and we believe that the change from the Residential Combined figure,
which included condominium and mobile homes, to Calgary metro, will better
reflect the current growth in this very diverse market place."
    The Calgary metro Condominium market showed equal stability in May with
new listings added totaling 1,332, an increase of 32.54 per cent from May
2006, when the new listings added were 1,005. This is a 15.13 per cent
increase from last month when new listings added were 1,157. Calgary metro
Condominium sales in May 2007 were 887, a decrease of 0.56 per cent from May
2006, when the sales were recorded as 892 and a 5.72 per cent increase from
last month's sales of 839.
    "With the increase of listings this month, we are seeing a shift in the
market giving it more balance," says Calgary Real Estate Board President, Ron
Stanners. "With this shift, it is more important than ever to price your home
competitively, if you want it to sell quickly. If you miss a first competitive
price point, your property may become subject to price reduction and will take
much longer to sell than the current 25 day average, to sell a single family
home," concluded Stanners.
    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 median price is determined by selecting the middle number of total sale
prices - the Calgary metro single family median price for May 2007 was
$435,000. This is an increase of 16 per cent from May 2006, when the median
price was $375,000.

    The Calgary Real Estate Board is a professional body of 5,589 licensed
brokers and registered agents, representing 254 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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