Calgary real estate market sees declines in sales and prices again in January

Calgary's real estate market showed no signs of heating up in January, as both sales volumes and sale prices dropped again.

Number of active listings edges above 5,000 as homes sit on market 22% longer than same month last year

A leaning for-sale sign advertises a luxury home for sale in Calgary. (Robson Fletcher/CBC)

Calgary's real estate market showed no signs of heating up in January, as both sales volumes and sale prices dropped again.

A total of 763 homes were sold in the first month of the year, down 13 per cent from January 2015, according to month-end data from the Calgary Real Estate Board (CREB).

The median sale price in January fell 3.1 per cent, year over year, to $409,000.

The average sale price, meanwhile, dipped by 0.2 per cent to $459,874.

There were 5,022 active listings at the end of January, up from 4,357 in December.

Time spent on the market also increased last month, edging up to 50 days. That's an increase of 22 per cent from the previous January.

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