Calgary, March 2, 2009 – MLS® sales activity of single family Calgary metro homes was 825 in the month of February 2009 showing an increase of 50 per cent from 550 sales in January 2009, according to fi gures released by the Calgary Real Estate Board (CREB®). This was a decrease of 34 per cent from February 2008 when single family home sales were 1,252. The number of condominium sales for the month of February 2009 was 343, an increase of 52 per cent from the 225 condominium transactions recorded in January 2009 and a decrease of 39 per cent from February 2008 when 562 condominiums changed hands.

“Undoubtedly the global economic downturn has battered consumer confidence. But there are promising signs we are moving towards a more balanced and stable market,” said Calgary Real Estate Board President, Bonnie Wegerich. “Sales are making some modest gains this month, prices are stabilizing and our inventory absorption rate is improving,” adds Wegerich.

The average price of a single family Calgary metro home in February 2009 was $415,568, showing an increase of 0.6 per cent from January 2009, when the average price was $413,049 and showing a decrease of 12 per cent from February 2008 when the average price was $471,696. The average price of a Calgary metro condominium was $268,971, showing a 0.7 per cent decrease from January 2009 when the average price about 13 per cent over last year, when the average price was $311,812. 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.

“Affordability is the silver-lining in this market. With low interest rates, broad selection and improved affordability, buying opportunities have not been this strong in years,” said Wegerich.

“And this is good news particularly for fi rst-time homebuyers who may have felt pushed out of the market,” adds Wegerich. “First time homebuyers can take advantage of improved affordability along with the federal government’s First-Time Home

Single family Calgary metro new listings added for the month of February totaled 2,057, down just 0.5 per cent from the 2,068 new listings added in January 2009 and showing a decrease of 31 per cent from February 2008, when new listings coming to the market were 2,981. Calgary metro condominium new listings added in February 2009 were 892 down 5.2 per cent from January 2009 when the MLS® saw 941 condo listings coming to the market. This is a decrease of 28 per cent from February 2008 when condominium listings were 1,244.

The median price of a single family Calgary metro home in February 2009 was $375,000, showing an increase of 0.1 per cent from January 2009, when the median price was $374,700 and down 12 per cent from February 2008 when the median price was $428,000. The median price of a condominium in February 2009 was $249,900 up 3 per cent from January when the median was $243,000 and down 15 per cent from February 2008 when the median price was $295,000. All Calgary Metro MLS® statistics include properties listed and sold only within Calgary’s City limits. The median price is the price that is midway between the least expensive and most expensive home sold in an area during a given period of time. During that time, half the buyers bought homes that cost more than the median price and half bought homes for less than the median price.

“Indeed the shift in the market has been challenging,” said Calgary Real Estate Board President, Bonnie Wegerich. “But I am encouraged by the improved  affordability for buyers and signs that we are slowly but surely returning to a more balanced market,” said Wegerich. The Calgary Real Estate Board is a professional body of 5,209 licensed brokers and registered associates, representing 252 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.

Calgary, February 2, 2009 – MLS® sales activity of single family homes was 550 in the month of January 2009 showing an increase of 22 per cent from 449 sales in December 2008, according to figures released by the Calgary Real Estate Board (CREB®). This was a decrease of 49 per cent from January 2008 when single family home sales were 1,083. The number of condominium sales for the month of January 2009 was 225, an increase of 9.8 per cent from the 205 condominium transactions recorded in December 2008. This was a decrease of 50 per cent from January 2008 when 454 condominiums changed hands.

“Indeed it is a tough market, but I am pleased to see sales picking up this month over December. Although our numbers are down from January 2008, we are seeing increased activity and more interest from buyers,” said Calgary Real Estate Board President, Bonnie Wegerich. “Buyers will continue to have choice and affordability in this slower market,” adds Wegerich.

The average price of a single family Calgary metro home in January 2009 was $413,049, showing a decrease of 1 per cent from December 2008, when the average price was $417,398, and showing a decrease of 9 per cent from January 2008 when the average price was $455,297. The average price of a Calgary metro condominium was $270,940, showing a 1.4 per cent decrease from December 2008 when the average price was $274,919 and showing a decrease of 13 per cent over last year, when the average price was $311,232. 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.

Single family Calgary metro new listings added for the month of January totaled 2,068, compared to 836 new listings added in December 2008. This is a decrease of 32 per cent from January 2008, when new listings coming to the market were 3,023. Calgary metro condominium new listings added in January 2009 were 941, compared to 431 new condominium listings added in December 2008. This is a decrease of 33 per cent from January 2008 when condominium listings were 1,406.

“While there’s still a good selection of homes to choose from, we are seeing a slow but steady decrease in our inventory,” remarked Wegerich. “As the inventory is reduced we will see a return to a more stable market.” The median price of a single family Calgary metro home in January 2009 was $374,700, showing a decrease of 1.4 per cent from December 2008, when the median price was $380,000 and down 8.6 per cent from January 2008 when the median price was $410,000.

The median price of a condominium in January 2009 was $243,000 down 4.3 per cent from December 2008 when the median was $254,000 and down 16 per cent from January 2008 when the median price was $290,000. All Calgary Metro MLS® statistics include properties listed and sold only within Calgary’s City limits. The median price is the price that is midway between the least expensive and most expensive home sold in an area during a given period of time. During that time, half the buyers bought homes that cost more than the median price and half bought homes for less than the median price.

“It is defi nitely challenging times out there. Sellers need to price their homes competitively. But in talking to a number of REALTORS®, I am hearing that activity is picking up and there are buyers out there looking for homes once again,” said Wegerich. The Calgary Real Estate Board is a professional body of 5,488 licensed brokers and registered associates, representing 252 Member offi ces. 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 Boards 's website at www.creb.com