Calgary's July Market Statistics

SALES IN CALGARY’S HOUSING MARKET REMAIN STEADY DURING MONTH OF JULY
Calgary, August 5, 2005

MLS® sales kept a steady pace in Calgary during the month of July, despite typical seasonal slowdown, according to statistics released by the Calgary Real Estate Board.

July 2005 combined residential sales totaled 2,723 (the highest July on record), an increase of 15.63 per cent over July 2004’s 2,355 and a 13.06 per cent decrease over last month’s 3,132. The breakdown of July 2005’s combined sales numbers is 1,922 single-family residences, 788 condominium, and 13 mobile home sales. This compares to July 2004 when the numbers were 1,729; 606; and 20, respectively. Year to date, 19,011 residential homes have sold through the MLS® in Calgary and area, compared to 16,313 at the end of July 2004, an increase of 16.54 per cent.

The average residential sale price for July 2005 was $245,704 remaining almost on par with last month’s $245,803, and showing an 11.22 per cent increase over July 2004’s average price of $220,919. Year to date the average residential price was $246,819 an 11.58 per cent increase over 2004’s year to date residential sale price of $221,197. Broken out, the following is a comparison of single-family, condominium, and mobile home average sale prices for the month of July 2005 over 2004: single family $272,846 / $242,442; condominium $182,680 / $165,424; and mobile home $53,062 / $41,725.

Sales in the condominium market for July 2005 were 788 (the highest July on record), showing a 30.03 per cent increase over the 606 sales recorded in July 2004 but showing an 11 percent decrease over last months record breaking 885 condominium sales. The average price of a condominium in July 2005 was $182,680, up 10.43 per cent over July 2004 when the average price was $165,424 and down just 1.4 per cent from last month’s record breaking $185,304.

“As we move into the summer months, sales typically tend to slow down, however, the fact that July 2005 has the highest number of sales on record over any other July, this is a good indicator that the market is still strong and healthy”, explains CREB® President, Marilyn Jones.

For the month of July 2005, combined residential listings new to the market numbered 3,166 units, down from June’s 3,654 and down from the 3,564 units recorded in July 2004. Year to date residential listings at the end of July 2005 were 26,317, down 2.57 per cent from the same period last year when the number was 27,011.

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 residential median for July 2005 was $221,000; down slightly from June’s $220,000.

The Calgary Real Estate Board is a professional body of 4,889 licensed brokers and registered agents, representing 256 member offices. The Board does not generate statistics or analysis of any individual member or company's market share. All MLS® active listings for Calgary and area may be found on the Board’s website at www.creb.com.

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