Calgary by FaceMePLS

For the third consecutive months, the year over year monthly sales has increased by double digits. The single family market in the city of Calgary recorded 1,086 sales in the month of August 2011, which is 25 percent increase compared to August 2010.

Condominium sales also have gone up by 26% compared to the same month last year. The number of newly listed homes increased by three per cent from July to August but overall inventory is still lower than levels recorded last year.

Average price of a single family home for August 2011 was $453,500 while the median price was $400,000, which is 2% lower than last month. Historic low mortgage rates and stable home prices are helping the market improve, cautiously.

See the complete Calgary Real Estate Market Report August 2011.