Calgary metro home prices made the first year-over-year increase on a
monthly basis since February 2008 according to figures
released by the Calgary Real Estate Board (CREB).
The average price of a single family Calgary metro home
in August 2009 was $454,130, showing an increase of
4 per cent from July 2009, when the average price was
$436,782, and showing an increase of 3 percent from
August 2008, when the average price was $440,625.
The average price of a Calgary metro condominium was
$283,330 showing a 1 per cent decrease from July 2009,
when the average price was $285,032 and a decrease
of 2 per cent over last year, when the average price was
$287,832.
We might see a gradual edging up in average prices come
this fall, but on the whole, prices will most likely remain
relatively stable. With our inventory at just under a four
month supply, the market continues to be in balance,”
says Bonnie Wegerich, President of the Calgary Real
Estate Board.
“We are seeing an upward revision of our housing market
forecasts at the National level,” says Wegerich. “I think
it is fair to say the recovery in the market has been a little
brisker then first expected – and all signs indicate the
rebound, all be it gradual, will have some longevity.”
“All in all we are optimistic about the fall market. Low
mortgage rates, government incentives and realistic
pricing on the part of sellers are contributing to healthy
sales numbers – as is the recent boost in consumer
confidence on news that the worst of the economic
slowdown is over,” says Wegerich.
Supplied by:
Judy Cunningham
RE/MAX Real Estate Mountainview
judy@judycunningham.ca
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