Connect

New Search X

Calgary Market Continues to Outperform

Posted by Jim Sparrow on Wednesday, January 30th, 2013 at 11:52am.

With 2 days remaining in the month, Calgary's real estate market continues to outperfom. Sales of Calgary MLS® listed homes & condos yesterday eclipsed last January's numbers, and marks the 12th consecutive month the number of sales has increased year over year. This is in stark contrast to the majority of other major Canadian cities, many of which have seen their Y/Y sales tumble since midway through 2012.

January 2013 Calgary real estate market update

At time of writing, metro Calgary sales stand at 1,119 (vs a total of 1,069 last January.

  • SF home sales @ 804 (vs 763 last January)
  • Median SF sale price @ $435,500, a 10% increase over last January's $395,000 *Median SF sale price sets a new January record, 6% higher than the next highest January (2008)*
  • Average SF sale price @ $496,176, a 13% increase over last January's $440,478 *Average SF sale price sets a new January record, 9% higher than the next highest January (2008)*
  • Condo sales @315 (vs 306 last January)
  • Median condo sale price @ $254,900, a 4% increase over last January's $245,000 *Median condo sale price is still 12% lower than record recorded for January (2008)*
  • Average condo sale price @ $288,851, a 7% increase over last January's $269,723 *Average condo sale price is still 7% lower than record recorded for January (2008)*
Inventory for Calgary real estate is still low, with 2.7 MOI *months of inventory* for Calgary homes and 3.3 MOI for Calgary condos. This more than any other single factor is what has been driving the price increases in property (far moreso in the SF home market than the condo market). Should the number of listings not increase going into the spring this could well turn the balanced market for homes into a sellers market (where many properties sell quickly for list price or more).
A Respected Name in Calgary Real Estate: JimSparrow.com

If you're looking to sell or buy, do not hesitate to contact us.

We are prepared to work hard ensuring that your needs are met and that the result is more than you were hoping for. Nothing gives us more pleasure than your success and being with you through major life changes.

Leave a Comment