Calgary Local Market Analysis - December 2008

[RedlineBrett]

Here are December`s sales stats for Calgary`s NW and West LRT. I`ve also provided the "Total MLS" numbers which will no doubt make some headlines shortly.

As expected, prices and sales are down... but you have to be careful how you interpret them. The media will no doubt jump all over the low numbers but investors with property in these areas should not necessarily be alarmed. Low sales volume could just as easily mean that the owners of property are rejecting low offers while buyers are shopping around for the best deal.

Many of these communities are outperforming the overall market due to their strong fundamentals (close to employment and transportation whilst being relatively affordable).

The key for investors is not to be so quick to accept the general market stats but to make sure they know what is going on in the communities they have invested in, or are planning to buy into. Local market economics and comparable sales are very important!

Northwest LRT
Ranchlands Single Family Home Dec 08
Ranchlands Condominium Dec 08
Silver Springs Single Family Home Dec 08
Silver Springs Condominium Dec 08
Dalhousie Single Family Home Dec08
Dalhousie Condominium Dec 08
Brentwood Single Family Home Dec 08
Varsity Single Family Home Dec 08
Varsity Acres Condominium Dec 08
Varsity Village Condominium Dec 08

West LRT
Glendale Single Family Home Dec 08
Rosscarrock Single Family Home Dec 08
Shaganappi Single Family Home Dec 08
Westgate Single Family Home Dec 08
Spruce Cliff Single Family Home Dec 08
Spruce Cliff Condominium Dec 08

Overall Calgary Market
Citywide Sales Stats - last 24 months - Current to Dec 08

November`s data can be viewed here

 

[wgraham]

Brett,

This is really great stuff and thanks for sharing it with everyone! Leave the emotional headlines out of it and focus purely on the numbers. Invaluable to investors.

All the best,
Wade