Calgary resale homes top $400,000 average

CALGARY — The average price of resale homes in Calgary topped $400,000 in August, according to a report released Friday by the Conference Board of Canada.

The board said all residential property sales in the city hit an average of $404,755 during the month, up from $391,497 a year ago.

The seasonally-adjusted annualized rate of sales also jumped to 22,092 from 18,816 in August 2010.

And the annualized rate for new listings has also increased to 44,940 from 43,536.

The board said the sales to new listings ratio in Calgary increased to 0.466 in August from 0.410 a year ago.

The board also forecasts short-term year-over-year price growth of between five to seven per cent for Calgary.

According to the Calgary Real Estate Board, month-to-date up to and including Thursday, there were 740 single-family MLS sales for an average price of $466,754 and 307 condo sales for an average of $302,460.

For the same period in 2010 up to Sept. 22, there were 682 single-family transactions at an average of $467,486 and 258 condo sales for an average price of $280,790.

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