Monday
05Jan2009
December 2008 Market Report
Monday, January 5, 2009 at 2:54PM
The Calgary Real Estate Board released its monthly market statistics package for December 2008. Some highlights and selected charts are below (credit Calgary Real Estate Board www.creb.com), the report will be made publically available tomorrow.
We were expecting a slow month given the overall market conditions and the economic sentiment and we weren't surprised. The number of homes sold (total MLS) was down roughly 47% compared with December 2007. The annual sales volume for 2008 vs. 2007 was down 29% for single family homes and 34% for condominiums. Although the volume is down significantly over last year, YTD median prices have declined by much less (2.85% for single family homes and 5.25% for condominiums).
We were expecting a slow month given the overall market conditions and the economic sentiment and we weren't surprised. The number of homes sold (total MLS) was down roughly 47% compared with December 2007. The annual sales volume for 2008 vs. 2007 was down 29% for single family homes and 34% for condominiums. Although the volume is down significantly over last year, YTD median prices have declined by much less (2.85% for single family homes and 5.25% for condominiums).
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