Calgary home sales continued to show a marked decline in the 1^st six months of 2010, according to figures from the Calgary Real Estate Board

The number of single family homes sold in June 2010 in the city of Calgary was down 42 per cent from the same time a year ago, and condominium sales saw a decrease of 40 per cent from the same time a year ago.  June 2010 saw 1,061 single family homes sold in the city of Calgary. This is a decrease of 16 per cent from 1,262 sales in May 2010. In June 2009, single family home sales totaled 1,837. The number of condominium sales for the month of June 2010 was 445. This was a decrease of 14 per cent from the 518 condominium transactions recorded in May 2010. In June 2009, condominium sales were 738. Conversely, sales of million-dollar-plus properties jumped by nearly 42 per cent year-to-date until the end of June, compared with the same period a year ago.

A continued moderation in Calgary’s home sales in the face of higher mortgage rates, increased inventory levels and a decreasing number of first-time homebuyers entering the market, Sales trends in June reflect very similar of what we saw in May.  Changes to mortgage rules meant a good portion of homebuyers wanted to get in before the new regulations took effect in April.  This, along with rising interest rates on the horizon, pulled forward sales we might have expected in May and June.”The average price of a single family home in the city of Calgary in June 2010 was $481,964, showing no significant change from May 2010, when the average price was $483,240, and showing an increase of 8 per cent from June 2009, when the average price was $447,142. The average price of a condominium in the city of Calgary was $292,238, showing a 4 per cent decrease from May 2010, when the average price was $304,662 and a 2 per cent increase over last year, when the average price was $285,595. Average price information can be useful in establishing trends over time, but does not indicate actual prices in centres comprised of widely divergent neighborhoods, or account for price differentials between geographical areas.

The one area of the market that seems to be against this moderating trend is the luxury or higher-end market. Calgary home sales continue to shift to higher price points. This has resulted in our average price holding firm.  Homes in the higher price range have performed well and account for a larger portion of sales as move-up buyers enter the market.  In the first six months of this year, 187 single-family homes in the city of Calgary sold for $1 million or more, compared with 132 in 2009.”

Dust off the old boots! Don't forget the hat! 

As a homeowner, you probably have a string of minor repairs and other touch ups around your home that never quite get done:a closet door thats queaks and rattles a bit, a tear in a window screen, a faucet that drips occasionally. All of these may seem minor to you. Infact, you might have long since stopped noticing them. But a potential buyer viewing your home will notice. So, if you have a list of minor repairs and touch-ups you’ve been meaning to get done, now is the time. You don’t want any thing to get in the way of a buyer forming a good impression of your home. More ways to sell your home: Informed Home Buyer Seller July 2.pdf (555.17 kb)