Canadian Mortgage News
July 7, 2010
Calgary house prices hold study, but small decline likely: survey
Calgary house prices remained strong in the second quarter compared to the same period in 2009, but they are expected to decrease slightly over the remainder of the year, according to the Royal LePage House Price Survey released today.
“Overall, prices are still higher than they were a year ago,” said Ted Zaharko, broker and owner of Royal LePage Foothills. “But as the second quarter ends, we are seeing the market lean in favour of the buyer.”
The report says that sales in the Calgary market have decreased and inventory levels have risent slowly compared with this time last year, but the prices still remain higher than a year ago in most housing categories except standard condominiums, which saw a 0.2 per cent decline to $251,756 due to its large inventory levels. Standard two-storey homes posted the largest year-over-year price increases, rising 5.5 per cent to $422,078. Prices for detached bungalows increased 4.6 per cent compared with the second quarter of 2009 to $419,978.
Calgary house prices remained strong in the second quarter compared to the same period in 2009, but they are expected to decrease slightly over the remainder of the year, according to the Royal LePage House Price Survey released today.
“Overall, prices are still higher than they were a year ago,” said Ted Zaharko, broker and owner of Royal LePage Foothills. “But as the second quarter ends, we are seeing the market lean in favour of the buyer.”
The report says that sales in the Calgary market have decreased and inventory levels have risent slowly compared with this time last year, but the prices still remain higher than a year ago in most housing categories except standard condominiums, which saw a 0.2 per cent decline to $251,756 due to its large inventory levels. Standard two-storey homes posted the largest year-over-year price increases, rising 5.5 per cent to $422,078. Prices for detached bungalows increased 4.6 per cent compared with the second quarter of 2009 to $419,978.