Oct 22, 2010, Calgary housing price increases forecast by Conference Board

Short term year-over-year price growth expectations for the Calgary housing market are in the five to seven per cent range, according to the Conference Board of Canada.

In releasing its Metro Sale Index today, the board said Edmonton, Saskatoon, Gatineau, Montreal, Quebec City, Sherbrooke, Trois-Rivieres and Saguenay were all in the seven per cent and more range for short-term year-over-year price growth expectations.

Joining Calgary in the five to seven per cent range were Victoria, Vancouver, Fraser Valley, Regina, Winnipeg, Halifax and Newfoundland.

However, according to the website of realtor Mike Fotiou, of First Place Realty, so far this month up until Thursday, there have been 551 single-family MLS sales in Calgary for an average sale price of $436,614. That compares to 958 sales for the entire month of September with an average price of $460,278.

In the condo market, there have been only 203 sales so far this month for an average of $289,787 while in September there were 366 sales for the whole month with an average of $284,028.

The conference board said the average sale price in Calgary for all residential properties was $400,262 in September, up from $386,423 in August and from $394,662 a year ago.

By Mario Toneguzzi, Calgary Herald