Update, April 2012: click here
A look at Calgary house prices & sales over the past few decades.
During the early 1980’s boom/bust, Calgary average house prices peaked at $110,184 (Total MLS) in January 1982. Prices bottomed out in November 1984 at $68,322 – a 37.99% drop.
The next peak was in July 2007 at $442,693 (remember, that’s using old criteria) with the next low in January 2009 at $363,706 – a 17.8% decline. Last month, the average price was $417,875 which is down 5.6% from the peak.
It’s interesting to see how prices reacted to changes in the mortgage rules:
Since 1987, the highest sales level was in March 2007 with 3939 transactions. The lowest was 683 in December 1995 (December 2008 had 767). When looking at just the month of June, residential sales last month were the lowest since 1996 with 1811 properties changing hands.
For detailed historical statistics including average and median prices, please visit my website at:
Note: Up until May 2007, the residential statistics compiled by CREB included “single family homes, condos, and mobile homes in the city of Calgary and surrounding district. Please be aware that these numbers do not include “Total MLS” which includes Country Residential and Rural Land. Country Residential and Rural Land listings were never included in the “Old Criteria” statistics, and they are not included here.”
Bob Truman is the only Calgary agent I know that still keeps track of the CREB’s old criteria, which is essential for comparing “apples to apples.” Thanks!
In 2007, the statistics were divided into SFH and Condos for Metro-Calgary which I think is a much better way to track prices. But for the purpose of this post, the statistics used in the charts below are CREB’s “old criteria” unless otherwise specified. (I only have statistics going back to 2002 using the new criteria)