After reviewing the data the main story is that condos are not on the market as long? Really? Even with sales down 44% and inventory up 55% from the same time last year? Remember DOM only applies to properties that have sold and does not include the amount of time if it has been unsuccessfully listed in the past.
The number of condominiums listed for sale on the Calgary Real Estate Board's MLS system during July totalled 890, down from 918 for the same month last year.
But on a year-to-date basis, the 7,967 new listings this year are nearly 22 per cent higher than for the same seven-month period in 2009.
On average, though, people are taking less time to make the buying decision. This year, the average length of stay on the market is 44 days compared to 53 a year ago.
Overall, the condo segment of the 2010 edition of the resale market is seeing lower sales, higher listings, and slightly - prices.
The figure mentioned in the article is the year to date days on market. Looking only at the month of July this number increased to 51 from 50 the same time last year.