Home prices skid nearly 10 per cent - Calgary

水管工 · 发表于 2008-9-3 07:40

Average single-family home now $440,625 amid sales drop
Mario Toneguzzi, Calgary Herald
Published: Wednesday, September 03, 2008
The average MLS sale price for a single-family home in Calgary fell by more than nine per cent in August compared with a year ago, while the average condo price dropped by just over 10 per cent, says the Calgary Real Estate Board.

Sales in both markets also declined -- by nearly 11 per cent for single-family homes and more than 17 per cent for condos.

Data released by the board Tuesday showed the average MLS sale price of a single-family home in the Calgary metro area in August was $440,625, down 9.32 per cent from August 2007 when it was $485,914. The average price of a condo in Calgary metro was $287,832, a drop of 10.27 per cent from August 2007 when it was $320,790.

Realtor Lana Wright, with Re/Max Professionals, said August is typically quiet for herself and husband, Steve, but this past month has been busy for her despite what the CREB numbers indicate.

"We're getting a lot more buyers coming in and, in our experience, they're not as pessimistic as other buyers have been," she said. "They're very well-educated. They know what's going on. I think that they're realizing that the market has stabilized and waiting any longer may not do them any justice. So most will take advantage of what's out there in the market."

Wright added typical buying patterns have been thrown out of whack.

"Historically, (the market) picks up in the fall but I would say the last two years we've not been able to count on anything historically because it's been so odd."

Wright said she's also seeing a little bit of a "surge" in her business because of mortgage changes coming this fall. The federal government announced changes taking effect Oct. 15 which include the requirement for buyers to put down at least five per cent for a down payment.

It is also implementing a reduction of government-backed mortgages from maximum amortization periods of 40 years to 35 years.

"People who are in that situation right now -- those are their options for qualifying -- are out there in the market right now looking," said Wright.

In August, according to the real estate board, single-family home sales were 1,170, a 10.96 per cent decrease from the 1,314 sales in August 2007. In July, it was 1,313 sales.

Condo sales in August were 495, a 17.22 per cent drop from August 2007 when they were 598. Condo sales in July were 535.

As for new listings, in the single-family market, there were 2,270 for August, down 19.99 per cent from a year ago (2,837). In July, there were 2,559 new listings.

Last month, the condo market saw 1,054 new listings, a drop of 11.13 per cent from a year ago (1,186) and down from July's 1,183.

Median sale prices also dropped in August. For single-family homes, it was $398,000, down 7.4 per cent from a year ago ($430,000) and down 2.6 per cent from July ($408,500). For condos, it was $268,500 -- off 10.8 per cent from $301,000 a year ago.

Real estate board president Ed Jensen, in a news release, said the median price for single-family homes is under $400,000 for the first time since January 2007, "which may indicate that properties are being reduced in price and that some sellers have waited too long."

Lai Sing Louie, senior market analyst in Calgary for the Canada Mortgage and Housing Corp., said declining sales in the Calgary market combined with still high listing levels (5,541 for single-family homes and 2,699 for condos at the end of August) are putting downward pressure on prices.

"Right now it's a matter of consumer confidence," he said. "Pricing uncertainty is impacting consumer confidence. People are taking a wait-and-see position. The actual levels of supply are starting to come down, but it's still going to take awhile."

In July, the average sale price for a single-family home was $456,380 while the median price was $408,500. For condos, the average price was $296,338 and the median price was $273,500.
The average price of a single-family home in Calgary peaked at $505,920 in July 2008 while the condo peak was $332,237 in May 2007.

Year-to-date until the end of August, single-family home sales are down 27.57 per cent and the average sale price ($466,677) is off by two per cent compared with the same period a year ago. Meanwhile, condo sales are off by 32 per cent and the average sale price ($307,640) is off by 2.6 per cent.

mtoneguzzi@theherald.canwest.com

- - -

Calgary Metro MLS Sales

(August 2008)

2008 2007 % Change

Single-family homes

New listings 2,270 2,837 - 19.99 %

Sales 1,170 1,314 - 10.96 %

Average days on market 52 39 33.33 %

Average sale price $440,625 $485,914 - 9.32 %

Median price $398,000 $430,000 - 7.44 %

Condominiums

New listings 1,054 1,186 - 11.13 %

Sales 495 598 - 17.22 %

Average days on market 58 35 65.71 %

Average sale price $287,832 $320,790 - 10.27 %

Median sale price $268,500 $301,000 - 10.80 %

Source: Calgary Real Estate Board

[ 本帖最后由水管工于 2008-9-3 08:43 编辑 ]

CO2 · 发表于 2008-9-3 08:59

great job!

Solina · 发表于 2008-9-3 12:34

醉酒当歌 · 发表于 2008-9-3 20:44

不到美国的那种程度，realtor从来不会说不好，总是说快买，真是好笑！

老杨 · 发表于 2008-9-3 21:29

有人翻译成中文吗？我出200鲜花。

账号		自动登录	找回密码
密码			注册