February 2011

brought to you by REMAX Realty Professionals

Calgary, February 1, 2011 – Single family home sales in the City of Calgary edged upwards month-over-month and showed the first year- over-year increase since April 2010, according to figures released today by CREB® (Calgary Real Estate Board).

The number of single family home sales in the month of January 2011 were 791, compared with December 2010, when sales were 734 — an increase of about 8 per cent. The number of condominium sales for the month of January 2011 was 302. This was down from the 320 condominium transactions recorded in December 2010.

Year-over-year, the number of single family homes sold in January 2011 in the city of Calgary increased by 4 per cent. In January 2010, single family home sales totaled 762. Condominium sales saw a decrease of 20 per cent from the same time a year ago. In January 2010, condominium sales were 376.

“More affordable housing will continue to attract homebuyers to the inner-city, particularly as employment in the city of Calgary continues to improve,” says Sano Stante, president of CREB®. “Single family homes in the city are currently driving this gradual recovery, and we are seeing an uptick in the sale of homes below the $350,000 price point. This may suggest more first time homebuyers are entering the market, providing the fuel needed for a sustained housing recovery.”

The average price of a single family home in the city of Calgary in January 2011 was $454,163, showing a 3 per cent increase from December 2010, when the average price was $441,341, and a 3 per cent increase from January 2010, when the average price was $441,217. The average price of a condominium in the city of Calgary in January 2011 was $288,291, showing a 2 per cent increase from December 2010, when the average price was $282,768 and a 2 per cent increase over last year, when the average price was $282,639.

CALGARY HOMESALES RISE YEAR-OVER-YEAR

Single family homes in the inner-city drive recoveryThe median price of a single family home in the city of Calgary for January 2011 was $390,000, showing a slight increase from December 2010 when the median price was $389,000. This was a 2 per cent decrease from January 2010, when the median price was $398,000. The median price of a condominium in January 2011 was $255,000, showing a 1 per cent decrease from December 2010, when the median price was $258,500, and a 4 per cent decrease from January 2010, when it was $265,000.

“The recovery in 2011 will be incremental and gradual. Nonetheless, at the moment Calgary is offering buyers a great deal of affordability, low interest rates and a large selection of inventory,” says Stante. “Overall the first quarter of 2011 will show modest improvements in sales which will lay the foundation for the return to a more balanced market,” he adds.

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8154

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11725

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12865

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10473

9439

7189

8070

395,435

399,661

420,693

405,850

433,030

433,248 416,064

395,933410,708

403,679

411,224

389,912402,225

352,000 352,000

375,000

364,500375,000 370,000 362,000

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359,000 360,000

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CREB ® TOTAL MLS® JANUARY 2011

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SUDOKU

Here are some interesting fun facts from around the world. • Guinness Book of Records holds the record for being the book most stolen from Public Libraries. • Apples, not caffeine, are more efficient at waking you up in the morning. • Alfred Hitchcock didn't have a bellybutton. • Only 7% of the population are lefties. • 40 People are sent to the hospital for dog bites every minute. • Babies are born without knee caps. They don't appear until they are 2-6 years old. • The average person over fifty will have spent 5 years waiting in lines. • The toothbrush was invented in 1498. • The average housefly lives for one month • 40,000 Americans are injured by toilets each year.Did you know?

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