November Sales down on the Calgary Real Estate Board's MLS System

Posted by Justin Havre on Monday, December 1st, 2008 at 9:08am.

 

Our total MLS Active Listing count is now down to 11,337.  November sales are also down with a total number of sales recorded being 1,176 (955 for Metro Calgary).

A quick snap shot of our current  market activity:

Total Single Family Active: 6,968 – Metro Calgary:5,085 + 138 Pending Sales

Total Condominium Active: 3,060 – Metro Calgary: 2,402 + 75 Pending Sales

Total Active on Calgary Real Estate Board’s MLS System: 11,337 –

Total Metro Calgary: 7,487 -  Metro Calgary Vacant Count: 2,474

Here is a quick snap shot of the MLS Sales for November, 2008.
 

Metro Calgary Single Family Sales: 670 (Last Month 821, November 2007-1100)

Average Sales Price:$435,471 (Last Month $448,927)

Average Days on Market: 55

Average Sales Price to List Price: 95% (last Month 96%)

 

Metro Calgary Condominium Sales: 285 (Last Month 399, November 2007 – 494)

Average Sales Price: $285,585 (Last Month $289,147)

Average Days on Market: 51

Average Sales Price to List Price: 95% (Last Month 96%)

 

Our sales numbers have taken a sharp decline from last month due to the economic uncertainty we are facing along with the normal slow down at this time of year. With 1 out of every 7 (7.5) houses selling in the current market conditions, pricing is everything. Sellers need to come to realization that they have to price their home extremely competitive to sell.

Buyer have one of the best opportunities that we have seen years. Sellers are hungry for a sale and buyers can take advantage of the buyer's market.

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