MLS(R) resale market remains balanced in the first month of 2008

    CALGARY, Feb. 1 /CNW/ - Calgary's MLS(R) Sales and Listings for the month
of January 2008, show a steady and more stabilized market, according to
figures released by the Calgary Real Estate Board (CREB(R)).
    Single family Calgary metro new listings added for the month of January
totaled, 3,023, an increase of 30.02 per cent over the 2,325 new listings
added in January 2007. Single family Calgary metro properties changing hands
in January 2008 were 1,083, a decrease of 27.66 per cent from the 1,497
recorded in January 2007 and an increase of 28.01 per cent over the 846 sales
recorded in December.
    The median price of a single family Calgary metro home in January 2008
was $410,000 showing an 7.89 per cent increase over January 2007, when the
median price was $380,000 and showing a 0.8 per cent increase from December
when the median price was $406,788. 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 January 2008 were 1,406,
showing an increase of 40.04 per cent from the 1,004 new condominium listings
added in January 2007. Calgary metro condominium sales in January 2008 were
454; a decrease of 38.32 per cent from January 2007 when 736 condominiums
changed hands and an increase of 15.52 per cent from the 393 sales recorded in
the month of December.
    "We experienced a slower market toward the end of December, which is
expected during the holiday season, however, January has been a relatively
good month for the resale market. This is the month when peoples lives are
getting back on track, and consumers may be entertaining the idea of listing
their home," remarked CREB(R) President, Ed Jensen. "I think this first
quarter of 2008 will pick up momentum, and I anticipate a more balanced and
stabilized spring," concluded, Jensen.
    The average price of a single family Calgary metro home in January 2008
was $455,297, showing a 2.37 per cent increase over December 2007, when the
average price was $444,769. The average price of a metro condominium was
$311,232, showing a 2.14 per cent increase over December 2007 when the average
price was $304,719. 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 5,723 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

For further information:

For further information: Ed Jensen, CREB(R) President, at (403)
278-6884; Ron Esch, Executive Vice President, at (403) 781-1308

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