November Home Sales Drop Significantly In Calgary
CHQR Newsroom
12/1/2008
Home sales in Calgary dropped 39 percent in November when compared to the same month one year ago.
670 homes changed handed in Calgary last month, down from 1,100 in November 2007.
It's also down 18 percent from the month before, when 820 homes were sold.condo sales were also down significantly - nearly 43 per cent from November 2007, and 29 percent from October's sales.
Calgary Real Estate Board President Ed Jensen says market activity typically slows down close to the end of the year, but that's magnified this year due to the uncertain economic situation.
Prices have also dropped, with the average price of a single family home in Calgary now sitting at $435,000 - down 5.8 percent from one year ago.
Average price in October was $449,100, FYI.