The real estate market appears to be on its way to recovery, according to the Calgary Real Estate Board (CREB).
The board released its 2011 forecast in mid-January calling for Calgary's housing inventory levels to stabilize, resulting in an eventual return to "a more balanced and sustainable housing market."
The average price of a single-family home in Calgary in January was $454,163, a 3 per cent increase from January 2010. The average price of a condominium in Calgary in January 2011 was $288,291, a 2 per cent increase over last year.
In contrast, the average selling price for a single-family dwelling in Edmonton fell from January 2010 to January 2011 by about 2.3 per cent to $356,278, according to the Realtors Association of Edmonton.
from Western Investor, March 2011
