The Calgary Real Estate Board stats came out yesterday for March 2009 (full package is linked here). Here are some of the highlights for the Calgary area. The listing inventory held steady month-over-month while sales accelerated, resulting in an improvement in the absorption rate and moving closer to a balanced market condition. There is a now a 4.02 month supply of single family homes for sale, compared with 8.6 months of supply in December.



The actual number of sales is down compared with March last year by 23.41% (single family), however the number of new listings coming on the market during the month was down by 42.08% and the number of active listings is down by 26.6% compared with last March. Even though the actual number of sales is still lower than last year the selection is more limited and the marketplace is tighter than it was last year at this time.

The numbers for condos are very similar, the number of sales are down 21.06% but new listings are down 42.15% and inventory is down 26.1%.



At the same time, average prices of single family homes have shown some stability. The average sale price in March was $420,354 compared with $415,568 in February and $413,049 in January.

For condominiums, the average sales prices are $284,056 in March, $268,917 in February, $270,940 in January.