Calgary’s Housing Market Recovers!
"Low borrowing costs continue to fuel market recovery" says Bonnie Wegerich, president of the Calgary Real Estate Board (CREB®). According to CREB® market stats, there are seven consecutive months of sales increases for the single-family housing and condo markets.
In November 2009, the number of single family homes sold in Calgary-metro were up 63% from last year, while condominium sales saw a 77% increase from last year. Also in November, the median price of a single family home in Clgary metro was $408,000, not significantly different from Oct 2009, when the price was $410,000, and up 5% from Nov 2008. The median price of a condominium in Nov was $264,900, showing a 1% increase from Oct 2009, when the median was $263,500, and up 5% from Nov 2008.
“We expect sales to taper off as we enter the winter months,” notes Wegerich. “But the market is well above the trough we saw at the end of 2008 and we are now seeing much healthier and balancedconditions for both buyers and sellers.”
See Nov 2009 CREB® News Release at Calgary Market Trends
(large Charts also available together with 2007-2008 Stats)
