MLS Sales in Calgary for both condos and single family homes plunged in October compared to a year ago – a trend that has continued through to this year. Statistics released Monday by the Calgary Real Estate Board show condo sales were down 20.4% to 399 from October 2007, with 501 sales, while single family homes sales dropped by 26.3% to 820 from last year’s 1,113.
The single family home market, the average sale price dropped by 0.7% to $449,100 and the median sale price dropped by 5.5% to $390,000. Average days active on the market rose by 20% to 48 days in October from 40 days in October 2007.
As for the condominium market, the average sale price lessened by 12.8% to $289,148 while the median price fell by 7.3% to $268,000. Average days on the market increased by 25% to 50 days, up from an average of 40 days in October 2007.
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