April Market

The average price of a single family Calgary home in April 2009 has increased by 1% to
$426,311 from March 2009. But we are showing a decrease of 10% from April 2008 when the average price was $474,564. A year over year decrease of $48,253. We are seeing single family home prices stabilize as we move back to a more balanced market.

The average price of a Calgary condominium in April 2009 was $277,056 a 2% decrease
from March 2009, and a decrease of 11% from April 2008 when the average price was when the average price was $312,586. A year over year decrease of $34,633. The median price of a condominium in April 2009 was down 3% March 2009 and down 13% from April 2008. The drop in the median price indicates more buyers are purchasing condos in the price range less than the average price. The Calgary condominium inventory continues to grow and we will continue to see downward pressure on prices and competition from the starter home market.

Average price information can be useful in establishing trends over time, but does not indicate actual prices in centres comprised of widely divergent neighbourhoods, or account for price.

The median price is the price that is midway between the least expensive and most expensive home sold in an area
during a given period of time. During that time, half the buyers bought homes that cost more than the median price and half bought homes for less than the median price.