Single-family and condo transactions both increase

BY MARIO TONEGUZZI, CALGARY HERALD JANUARY 2, 2012

CALGARY — Calgary single-family and condominium MLS sales in 2011 both topped levels recorded in the previous year, according to preliminary unofficial data.

On the website of Calgary realtor Mike Fotiou, of First Place Realty, it says year-end sales in the single-family market reached 13,186 in 2011, up from 12,091 in 2010. Condo sales rose to 5,382 units in 2011, up from 4,858 the previous year.

The data also indicates the average MLS sale price for a single-family home in 2011 was $466,402, increasing from $461,132 in 2010 while the condo average sale price dipped to $287,173 from $290,353 the previous year.

Fotiou’s website says the median sale price for single-family homes fell to $405,000 last year from $406,000 in 2010 and the condo median sale price dropped to $261,500 from $267,250.

For the month of December, the website says there were 722 single-family home sales, down 1.5 per cent from December 2010 and the first year-over-year decline in sales since April 2011. The average sale price in December of $453,629 was up 2.8 per cent from last year while the median price rose by 1.2 per cent to $393,750.

In the condo market, sales of 310 in December were down by only 10 units from December 2010’s level. The average sale price of $280,155 and the median sale price of $257,875 were both down 1.5 per cent compared with last year.