Monday, May 12, 2008

Calgary: High-end homes

There was higher percentage of high-end homes sold this April. Here are the numbers compared to 2007:

$1million +
April 2008: 3.08%
April 2007: 1.50%

These sales skewed the average price upwards. This is shown in Bob Truman's stats for single family homes here.

--Excluding $Million / All Sales
April 2008 442,488 / 474,564
Mar 2008 446,274 / 474,513
April 2007 458,611 / 474,250

Note that these stats are open to interpretation in many different ways. I'm an apocalyptic doom and gloomer so I think it might be possible for home that was sold for 430K last year to be sold for 415K this year. One could call this a low-end sale instead. Anyway I broke it down here from CREB numbers. You can spin or doom and gloom it yourself.

Is anyone tracking a benchmark home in Calgary or Edmonton?


Anonymous said...

Dear Bear Claw,

I like how you say it like it is. Keep up the good work!

Anonymous said...

These numbers make sense in the early stages of a crash. Right now don't expect much of a shift in these graphs - the first sign is increasing inventory. Second sign is reduced demand. It takes a while for that to translate into lower prices.