Bow Valley Real Estate on the Rise

Calgary Herald July 2, 2009
CALGARY- According to the Calgary Real Estate Board Calgary home sales increased for the the sixth consecutive month in June.
The number of homes and condos sold was also up over the same time in June 2008, with 1,837 homes and 738 condos sold in the metro Calgary market in the past month.
The home sales mark a 16 per cent increase over May 2009 and 28 per cent increase over June 2008, when single family home sales were 1,493.
The condo sales mark a 13 per cent increase over May 2009 and a 33 per cent increase from this time last year when condo sales were 556.
According to Bonnie Wegerich, President of the CREB, "affordable prices, low interest rates and pent-up demand continue to fuel this gradual rebound."
According to the CREB turnover for homes and condos is now just over two months, where in January of 2009 the turnover time was 11 months.
Home prices are also up two per cent over May 2009, with the average price of a single family home in June 2009 $447,142. However, the June 2009 figures are a six per cent decrease from June 2008 when the average price was $473,774.
Condominium prices are also up four per cent over May 2009, with the average price listed as $285,595, but down nine per cent from June 2008 when the average price was $315,042.
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