The number of residential real estate transactions fell in both Edmonton and Calgary in May, but prices didn’t fall with activity.
While May’s single-family home sales were off about 20 per cent in the Stampede City from a year ago, the average price of a home in the Calgary market jumped a whopping 5 per cent from a month earlier, up from $460,378 to $483,240.
The average condo price was also up about 5 per cent, from $289,588 to $304,662.
“Our inventory is shifting to higher price points as move-up buyers enter the market,” said Calgary Real Estate Board president Diane Scott.
“This has resulted in an overall boost in average price.”
In Alberta’s capital, the price of a single-family home climbed in May to an average of $390,583, up about 6.5 per cent from a year ago. The average Calgary condo price moved to $248,526.
August, 2010