July 15, 2010

Calgary Real Estate market is now a buyer's market.

  • For the month of June 2010 the average Calgary house price was $481,964, down 0.2% from last month and up 7.8% from June 2009. The median Calgary house price for June 2009 was $418,900, down 0.3% from last month and up 5.0% from June 2009
  • The average Calgary condo price for June 2010 was $292,238, down 4.0% from last month and up 2.3% from the same period last year. the median Calgary condo price for June 2009 was $269,900, down 3.5% from last month and up 1.7% from June 2009.
  • The average days on market (DOM) for June 2009 was 39 days for single family Calgary homes sold. For June 2010 the average the average DOM for Calgary condos was 46 days.
  • Calgary real estate listing inventory now sits at 5.7 months supply, 48 % more listings now than at the same time last year. With the growing number of Calgary real estate listings on the market we don't see prices trending much higher than the current level. Our conservative estimate is actually a decrease in home prices of 5-8% across the board and as high as 20% in high end homes and condos.
  • It is important that consumers understand that an adjustment in the market is normal and healthy. Our adjustment seems more rapid than usual only because of mortgage rate changes, and government enforced lending requirements.
  • There will never be a better time to enter the market as a first time home buyer or move up to a larger home. Let us set you up with the best search for new Calgary listings right here. Using the latest technology, you'll receive new Calgary MLS listings directly by email, long before they appear on MLS.ca

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