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City of Calgary real estate market start positive for the new year

Posted by Mark Sadiua on Friday, February 14th, 2014 at 12:42pm.

Sales activity and prices improve over 2013

Calgary, Feb. 2014 On the heels of a strong year of sales growth, January sales in the city of Calgary totaled 1,440 units, a 17 per cent increase over the previous year.

Calgary Condominium Market

Condominium apartment and townhouse sales totaled 466 units in January, a 33 per cent increase over the same period in 2013. New listings in the condominium apartment and townhouse market totaled 809 units, a combined increase of six percent. 

Condominium apartment and townhouse prices totaled $280,600 and $308,100 respectively in January. On average, year-over-year price growth in the townhouse market totaled just more than 8 per cent, compared to the apartment sector increase of nearly 12 per cent. While year-over-year condominium apartment price gains have pushed into double digit growth territory, the unadjusted benchmark price remains 5.5 per cent lower than evels recorded during the high.

Calgary Single Family Market

There were 974 sales in the single family sector, only a 11 per cent increase over the previous year. Meanwhile, the single family sector lost momentum significant change in the supply situation this month, prices continue to rise at higher than expected levels.

The unadjusted single family benchmark price was $476,700 in January, a 0.95 per cent increase over the previous month and a 9.1 per cent increase over the previous year. The availability of lower price single-family product continues to decline, resulting in a shift in sales distribution.

In January, 29 per cent of the single family sales activity occurred in the $400,000 - $499,999 price range, making it the category with the highest share of sales. In previous years, the majority of the single family transactions occurred in the $300,000 - $399,000 range.

With new listings recording an eight per cent year-over-year decline. Overall market conditions continue to remain tight with months of supply remaining below. 

Calgary Real Estate Statistics

Calgary Single Home Statistics

Total Calgary Homes
1,671
Average Price of Calgary Homes
$520,686
Average Days on Market
40
Total Sales
947

Calgary Condo Statistics

Total Calgary Condos
577
Average Price of Calgary Condos
$314,678
Average Days on Market
42
Total Sales
260

Calgary Townhouse Statistics

Total Calgary Townhouse
277
Average Price of Calgary Townhouse
$371,638
Average Days on Market
38
Total Sales
206

 

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Re/Max, CREB Certified Condominium Specialist