MLS(R) sees seasonal slow down activity

    CALGARY, Dec. 3 /CNW/ - Typical season slow down comes to the MLS(R)
during the month of November 2007, according to figures released by the
Calgary Real Estate Board (CREB(R)).
    Single family Calgary metro sales for November 2007 were 1,103, a
decrease of 21 per cent from the 1,397 sales recorded in November 2006 and a
slight decrease of 0.9 per cent from the 1,113 sales recorded in October 2007.
    Single family Calgary metro new listings added for the month of November
totaled 1,949, a 39.5 per cent increase over the 1,397 new listings added in
November 2006. This is a decrease of 24.6 per cent over the 2,586 new listings
added in October 2007.
    The median price of a single family Calgary metro home in November 2007
was $407,500 showing a 8.7 per cent increase over November 2006, when the
median price was $375,000 and showing a 1.2 per cent decrease from October of
this year when the median price was $412,500. 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 November were 890,
showing a decrease of 26 per cent from the 1,203 new listings added last
month. This is a 23.3 per cent increase from the 722 new listings coming to
market in November 2006. Calgary metro condominium sales in November 2007 were
496; a decrease of 17.7 per cent from November 2006, when the sales were
recorded as 603 and a 10 per cent decrease from the 501 condominium sales
recorded in October 2007.
    "November is typically a slower month for MLS(R) sales and listings, due
to the approaching holiday season. However, November Single Family Calgary
Metro sales are only down by 10 sales from October, so there is still a
substantial amount of product selling," remarked CREB(R) President Elect, Ed
Jensen. "If you are in the market to purchase, there is a healthy selection of
product available at the moment, giving buyers many choices. Also, sellers
need to be listing their properties with a professionally licensed REALTOR(R),
who will help them achieve that all important competitive price point, and
give them exposure to the MLS(R) system, and a network of over 5,600+ other
REALTORS(R)," concluded Jensen.
    The average price of a single family Calgary metro home in November 2007
was $462,134, and the average price of a metro condominium was $312,710.
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 5,676 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 Elect, at (403)
278-6884; Ron Esch, Executive Vice President, at (403) 781-1308

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