SEASONAL SLOW DOWN NOT A FACTOR IN NOVEMBER 2005 SALES

Calgary, December 2, 2005 – November sales came in very strong, during the time of year when seasonal slow down is usually a factor, according to statistics released by the Calgary Real Estate Board.

November 2005 combined residential sales totalled 2,617, a 31.24 per cent increase over November 2004’s sales of 1,994, and a 1.28 per cent increase from last month’s sales of 2,584. Year-to-date combined sales came in at 29,621 an 18.86 percent increase over the same time period in 2004, when the sales number was 24,920. The breakdown of the November 2005 combined sales was, 1,839 single-family residences, 767 condominium, and 11 mobile homes. November 2004 sales in the same categories were, 1,387; 597; and 10, respectively.

"As the end of 2005 comes near, we are seeing no end to the high volume of sales. Typically in November we start to see a decline in the number of properties changing hands, however, November sales remain strong, indicating that the upcoming holiday season and end of year activities, are not deterring the consumer," remarked CREB® President, Marilyn R. Jones.

The average combined residential sale price for November 2005 was $264,402 a 15.59 per cent increase over November 2004, when the average price was $228,744, and a 3.89 percent increase over October 2005’s average price of $254,506. Broken out, the following is a comparison of single-family, condominium, and mobile home average sale prices for the month of November 2005 over 2004: single-family $295,488 / $255,338; condominium $193,268 / $170,339; mobile home $27,490 / $27,000.

Condominium sales in November also held steady with 767 condominiums changing hands. This is a 28.48 per cent increase over November 2004, when the condominium sales were 597 and staying almost on par with last month’s sales of 765, just a 0.26 per cent increase. The average price of a condominium in November 2005 was $193,268, an increase of 13.46 per cent from the same period last year and a 3.06 per cent increase over last month’s average price of $187,528.

November 2005 residential combined listings totaled 2,448, a decrease of 10.40 per cent from November 2004’s listings of 2,732 and down 12.98 per cent from last month’s 2,813 listings. Year-to-date combined residential listings for November 2005 were 38,140, down 5.10 per cent from November 2004, when listings were 40,190.

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 combined residential median for November 2005 was $230,500; up 12.44 per cent from November 2004, when the median price was $205,000 and up 3.36 per cent from last month’s median of $223,000.

The Calgary Real Estate Board is a professional body of 4,904 licensed brokers and registered agents, representing 255 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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