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Housing prices fall in Calgary

Calgary residential real estate prices aren't growing with the resurgent economy in 2011, according to the latest numbers from the Calgary Real Estate Board (CREB).

Calgary residential real estate prices aren't growing with the resurgent economy in 2011, according to the latest numbers from the Calgary Real Estate Board (CREB).

According to CREB figures, the number of single-family home sales was up about 4 per cent in the first quarter of 2011, in comparison to the same period last year, but home prices were down slightly.

The average single-family home price in the city was $462,947 for March 2011. That's down 1.8 per cent from March 2010. The average condo price was also down about 1 per cent from the previous month, and would have fallen further were it not for the unique sale of a $4.1 million condo.

According to the CREB, the average condo price for March 2011 was $280,781, down about 5.5 per cent from a year earlier.


from Western Investor June 2011