Year-over-year sales in Calgary's housing market increased in May
By Mario Toneguzzi, Calgary HeraldJune 1, 2009Comments (18)
CALGARY - For the first time in many months, year-over-year sales in Calgary's housing market have increased - an encouraging sign that the real estate industry is moving away from the winter and early spring doldrums.
MLS sales in May for both single-family homes and condominiums were higher than May 2008.
The last time single-family home sales were higher in a month compared with the previous year was in September 2008 while for condos it was April 2007.
There were 1,584 single-family home sales last month, up 15.8 per cent from May 2008, while the condo market saw 653 sales which represented a 13.2 per cent hike from a year ago.
Average sale prices appear to have stabilized in the Calgary market. The average sale price for a single-family home in May was $436,427 while for a condo it was $275,212 compared with $426,311 (single-family) and $277,491 (condo) in April.