Average and median prices in Calgary have been flirting with all-time highs this year. I had a look at the sales history from the past 3 days to see the ultimate fate of those homes sold in 2007 when prices were at their peak.
We’ve had 11 sales where the homes were previously sold in 2007. The average list price was $601,027. The average sale price was $610,136.
7 of the homes sold for more than the previous purchase price in 2007.
Bob's real estate blog 
What about condos bought around the summer of 2007? Either the bank owns them now (foreclosed) or the owner is still about 75 thousand dollars in the hole.