The Calgary Real Estate Board held its annual forecast meeting on Jan. 9, 2002, and this year's president predicts another good year for the MLS(R) resale housing market in Calgary.

In her inaugural speech, Board president Joyce Travis remarked, "We're expecting another healthy year in the Calgary market with modest decreases in the number of listings and sales, and a four-percent increase in average prices."

Approximately 400 Calgary Real Estate Board members and industry guests were on hand to hear Travis report that last year marked the highest number of residential sales ever in Calgary at 22,512 units, and predict that the number of sales will decrease by about 4% in 2002 to 21,500 units (16,750 single-family and 4,750 condominiums).

"Residential sales will be held in check partly due to increasing prices and the slight decline in listings," said Travis. The Calgary Real Estate Board is forecasting a slight decrease in the number of residential listings in 2002, from 32,674 last year to 32,500 this year. Of that total, 25,250 will be single-family units and the balance of 7,250 will be condominiums.

The average combined residential sale price was up 3.3% in 2001 over 2000. The Board's 2001 year-end statistics showed the average combined residential selling price at $182,090 (this figure is for all residential dwellings, including condominiums and mobile homes).

It is expected to rise another 4% in 2002 to $189,400. The average price of a single family home will reach $201,900 in 2002, up from 2001's average of $194,116.

The average sale price of condominiums is expected to increase by 4% to $144,350.

Calgary's condominium market had another strong year in 2001 and will remain a significant percentage of the overall market in 2002. Condominium sales this year will account for about 22% of the resale market - this compares to 15% in 1994 and 10% in 1989.

In addition to the industry forecast, Travis commented on the role of technology in the lives of Realtors, noting that it continues to influence the real estate industry and that REALTORS must use it to adopt new methods of communication and marketing.

Travis noted that the national MLS(R) website at www.mls.ca recorded an impressive 39 million page views during the month of December 2001.

"Technology enhances the way we as Realtors conduct our business in order to meet the needs of today's consumers," remarked Travis.

-The Calgary Real Estate Board is a professional body of 3,693 licensed brokers and registered agents, representing 254 member offices. The Board does not generate statistics or analysis of any individual member or company's market share. All MLS(R) active listings for Calgary and area may be found on the Calgary Real Estate Board's Web site at www.creb.com. National MLS(R) active listings may be found at www.mls.ca.