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Real estate slows, but prices rise

The number of residential real estate transactions fell in both Edmonton and Calgary in May, but prices didn’t fall with activity.

The number of residential real estate transactions fell in both Edmonton and Calgary in May, but prices didn’t fall with activity.

While May’s single-family home sales were off about 20 per cent in the Stampede City from a year ago, the average price of a home in the Calgary market jumped a whopping 5 per cent from a month earlier, up from $460,378 to $483,240.

The average condo price was also up about 5 per cent, from $289,588 to $304,662.

“Our inventory is shifting to higher price points as move-up buyers enter the market,” said Calgary Real Estate Board president Diane Scott.

“This has resulted in an overall boost in average price.”

In Alberta’s capital, the price of a single-family home climbed in May to an average of $390,583, up about 6.5 per cent from a year ago. The average Calgary condo price moved to $248,526.


August, 2010