(Calgary) Tuesday, July 6th, 2004 -- Statistics
released today by the Calgary Real Estate Board indicate that condominiums have
made a significant gain in listings market share, having cornered 26.5% of the
overall residential market (year to date June 30), compared to 24.4% for the
same time period last year.
Residential listings new to the market in June 2004 numbered at 3,869 units.
This is compared to 4,066 units from the previous month and 3,818 units recorded
for June 2003. Broken down, the residential listings for June 2004 are: 2,810
for single family units, 1,016 for condo units and 43 for mobile homes.
Year-to-date, 23,512 combined residential units have come to market, compared to
21,514 for the same six-month period last year. Total active residential
listings numbered 6,969 at the end of June; this compares to 6,410 for the same
month last year.
Combined residential units sold in June 2004 totaled 2,503; the best June on
record for sales; compared to 2,269 in June 2003. Breaking down the numbers we
find that 1,865 single family residences, 619 condominiums and 19 mobile homes
changed hands in June 2004 – this compares to 1,732 single-family, 520 condos
and 17 mobile homes sold in June 2003. Year-to-date, 13,965 combined residential
units have sold in Calgary and area, compared to 12,672 units for the same
timeframe last year. Again, condominiums continue to gain overall market share
with respect to sales, with 26.0% of the year-to-date residential sales
comprising of condo units. This is compared to 25.0% for the same period in
2003.
It should be noted that there were fifty-seven pending sales outstanding as of
June 30th, but that they will be included in the July 2004 statistics.
The residential sales to new listing ratio in June 2004 was 64.7% compared to
59.4% last year. The MLS® Sales to Active Listings ratio is 30.8%. The
residential list price to sale price ratio in June 2004 was 97.5%.
The average combined residential sale price in June 2004 reached $226,857 which
compares to $219,445 for May 2004 and $211,101 for June 2003. The year to-date
average sale price for combined residential units sits at $221,221; compared to
$208,475 last year.
The table below is a comparison of year-to-date single-family, condominium and
mobile home
average sale prices for June 2004 and 2003:
Single Family
Condominium
Mobile Home
2004
2004
2004
$242,218
$164,921
$ 48,144
2003
2003
2003
$228,134
$155,303
$ 53,905
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. The median price is determined by selecting the
middle number of total sale prices; the residential median price for June 2004
was $205,500; compared to the $203,000 recorded in May 2004, and up from the
$195,000 recorded in June of last year.
One indicator used in evaluating market performance is how many days a property
takes to sell. Keeping in mind that the sale of each MLS® property is unique
and that in order for properties to sell in a timely manner they must be priced
competitively, the following gives the AVERAGE days on market (DOM) for
single-family and condominium units for the month of June:
The Calgary Real Estate Board is a professional
body of 4,549 licensed brokers and registered
agents, representing 246 member offices. The Board does not generate statistics
or analysis of
any individual member or company's market share.
INFORMATION
CENTER
