Re­sale prices favour condo buy­ers

De­cline seven per cent in Jan­uary

Calgary Herald New Condos - - New Condos - JOSH SKAPIN

RMe­sale condo prices in the city con­tinue to favour buy­ers, says the Cal­gary Real Es­tate Board. The av­er­age condo sales price tum­bled by seven per cent in Jan­uary com­pared to the same time last year, says a CREB re­port. Prices eased from an av­er­age of $288,291 in Jan­uary 2011 to $268,526 last month.

The me­dian condo price was $255,000 in Jan­uary 2011, de­clin­ing by four per cent last month to $245,000. “As pre­sented in our hous­ing fore­cast re­port, a slow start to the year is

Visit our web­site un­der the head­ing, ‘Rate Your Re­sale,’ for re­sale prices by neigh­bour­hood. an­tic­i­pated, as con­sumers con­tinue to be cau­tiously op­ti­mistic re­gard­ing pur­chas­ing and/or list­ing their home,” says CREB pres­i­dent Bob Jablon­ski.

The av­er­age price for con­dos in Jan­uary 2011 was fu­elled by a hike in ac­tiv­ity in the $600,000-plus and un­der-$200,0000 price cat­e­gories. “While sales un­der $200,000 re­main strong, there has been an in­crease in ac­tiv­ity in the $200,000 to $299,999 price range,” says Jablon­ski.

Sales in this price cat­e­gory ac­counted for 41.64 per cent of condo sales in Jan­uary, com­pared to 38.41 per cent dur­ing the same month last year. This in­crease re­sulted in a fewer trans­ac­tions in con­dos priced $400,000-plus, he says.

Cal­gary Her­ald Ar­chive

Av­er­age prices were $268,526 in Jan­uary, down from $288,291 in 2011.

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