Calgary MLS prices increase in September ???



Calgary’s residential housing market saw the increase in activity in September despite ongoing global economic turmoil, based on the CREB.

Data launched through the board Monday indicated sales and prices elevated throughout the month in comparison with last year.

There have been 1,036 single-family MLS sales in September, up 8.25 percent from September 2010. The typical purchase cost was $466,167, a rise of just one.27 percent from this past year.

The condominium market saw 429 sales, up 17.21 percent from September 2010, by having an average cost of $299,508, that was annually-over-year hike of 5.45 percent.

“Despite recent turmoil within the global economy, Calgarians are showing confidence within the lengthy-term prospects for that city and therefore are benefiting from affordable and stable home values,” stated Bob Jablonski, leader-elect of CREB.

Year-to-date after nine months, there have been 10,518 single-family home sales, up 9.78 per cent compared with the same period a year ago.

After the first three-quarters of this year, condominium sales totalled 4,314, a 1.72 per cent rise over the same period last year.

MLS Formula is very simple, and could be presented like this below:

decline in listings => brings down inventories => prices and sales go UP

There is also a note from the owner of this site, that Calgary and Edmonton are still below the peak of the market seen in July 2007. All other markets accross Canada are above that peak…

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