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Calgary Real Estate Report: December 2012

Posted by Jim Sparrow on Thursday, January 3rd, 2013 at 5:02pm.

Calgary's real estate market continued to defy the slumping national trend by ending the year with another month of year-over-year increases in both the price and sales number categories. This comes as no surprise to most analysts as 2012 saw the metro Calgary residential market record the highest number of sales since 2007. Both the average and the median house price established new record highs for December.

Number of Calgary Residential Sales: December

Total residential houses & condos sold in Calgary - Dec 2012

  • Combined residential sales in Calgary totalled 1,083 (4.9% increase vs 1,025 sold in Dec 2011)
  • Total Calgary homes (houses) sold: 745 (3.2% increase over 722 sold in Dec 2011)
  • Total Calgary condos sold: 338 (9.0% increase over 310 sold in Dec 2011)
  • Previous 5 year average was: Combined sales - 1,016; House sales - 705; Condo sales - 312
  • Combined Sales to New Listings ratio for Calgary real estate was 123% last month, vs 96% a year earlier

Calgary Home Sale Price: December

Avg + Median Sale Price for Calgary homes: December 2012

Both average & median sale price for single family Calgary homes set new records for the month of December. It should be mentioned that the average sale price was skewed to the upside due to a large number of luxury property sales last month (there were 36 Calgary homes that sold for $1 million or more in December). Our advice continues to be to ignore AVERAGE PRICE as it does not accurately reflect the market. 

  • Average sale price for Calgary house $496,636 (9.2% increase over Dec 2011)
  • Median sale price for Calgary house $420,000 (6.3% increase over Dec 2011)
  • Previous 5 year average was: Avg Sale Price: $441,997; Median Sale Price: $394,300
  • Sales to New Listings ratio for Calgary homes was 119% last month (119 homes sold for every 100 new listings)
  • Listing inventory for Calgary homes was 1,879 at the end of 2012, 33% lower than last year

Calgary Condo Sale Price: December

Average & Median sale price for Calgary condos Dec 2012

While the average price for Calgary condos was close to breaking the all-time December record (2007), once again this was due to multiple condos selling for above the million dollar level (2 Calgary condos sold for $2 million while a 3rd sold for $1,325,000 last month). The median price of $260,000 is below the five year average, reflecting the continued softness in the condo market relative to five years ago. Price valuations for many Calgary condos still remains below what was seen in late 2006 - 2007.

  • Average sale price for Calgary condo $304,862 (9.2% increase over Dec 2011)
  • Median sale price for Calgary condo $260,000 (1.0% increase over Dec 2011)
  • Previous 5 year average was: Avg Sale Price: $285,358; Median Sale Price: $264,000
  • Sales to New Listings ratio for Calgary condos was 132% last month (132 condos sold for every 100 new listings)
  • Listing inventory for Calgary condos was 863 at the end of 2012, 33% lower than last year

2013 Outlook

Jim Sparrow, a REALTOR with Royal LePage, anticpates the Calgary residential market to continue bucking the national trend that's seen lower sales & price corrections in other major cities. "Alberta's vibrant economy and low unemployment rate have made Calgary one of the hottest job markets in the country."

Sparrow expects 2013 sales to match the numbers seen in 2012, with prices set to increase by low single digit percentages as a result of lower than average listing supply. "We have great optimism about the Calgary real estate market in 2013, particularly for properties selling for more than $700,000. Demand for luxury property increased 22% last year, and we believe this will be another record year for luxury sales"

SW Calgary Home & Listing Sales Stats

December 2012 Southwest Calgary Sales & MLS® System Listing Stats

Southwest Calgary (Zone C) Stats:

209 Southwest Calgary homes sold on the Calgary MLS® System in December 2012 (8.9% increase from same period in 2011)

  • Avg sale price of $660,993 (17.7% higher than same period last year)
  • Median sale price of $540,000 (18.7% higher than same period last year)
  • Avg days on market (DOM) for SW Calgary home sales = 51 days
  • December Sale price / List price ratio for SW Calgary homes = 96.50%
  • Average Sale Price per Square Foot = $350/Sq Ft
  • Median Sale Price per Square Foot = $326/Sq Ft

186 Southwest Calgary condos sold on the Calgary MLS® System in December 2012 (8.8% increase from same period in 2011)

  • Avg sale price of $345,845 (12.7% higher than same period last year)
  • Median sale price of $280,000 (5.0% higher than same period last year)
  • Avg days on market (DOM) for SW Calgary condo sales = 64 days
  • December Sale price / List price ratio for SW Calgary condos = 96.48%
  • Average Sale Price per Square Foot = $328/Sq Ft
  • Median Sale Price per Square Foot = $314/Sq Ft

NW Calgary Home & Listing Sales Stats

December 2012 Northwest Calgary Sales & MLS® System Listing Stats

Northwest Calgary (Zone A) Stats:

259 Northwest Calgary homes sold on the Calgary MLS® System in December 2012 (2.3% fewer NW homes sold than same period in 2011)

  • Avg sale price of $491,067 (6.6% higher than same period last year)
  • Median sale price of $437,500 (2.3% higher than same period last year)
  • Avg days on market (DOM) for NW Calgary home sales = 51 days
  • December Sale Price to List Price ratio for NW Calgary homes = 96.98%
  • Average Sale Price per Square Foot = $303/Sq Ft
  • Median Sale Price per Square Foot = $274/Sq Ft

84 Northwest Calgary condos sold on the Calgary MLS® System in December 2012 (5.0% more NW condos sold than same period in 2011)

  • Avg sale price of $273,765 (4.6% higher than same period last year)
  • Median sale price of $254,921 (2.4% lower than same period last year)
  • Avg days on market (DOM) for NW Calgary condo sales = 56 days
  • December Sale Price to List Price ratio for NW Calgary condos = 96.67%
  • Average Sale Price per Square Foot = $262/Sq Ft
  • Median Sale Price per Square Foot = $257/Sq Ft

SE Calgary Home & Listing Sales Stats

December 2012 Southeast Calgary Sales & MLS® System Listing Stats

Southeast Calgary (Zone D) Stats:

146 Southeast Calgary homes sold on the Calgary MLS® System in December 2012 (2.8% more SE home sales than same period in 2011)

  • Avg sale price of $442,284 (3.1% higher than same period last year)
  • Median sale price of $405,250 (3.7% higher than same period last year)
  • Avg days on market (DOM) for SE Calgary home sales = 50 days
  • December Sale Price to List Price ratio for SE Calgary homes = 97.32%
  • Average Sale Price per Square Foot = $274/Sq Ft
  • Median Sale Price per Square Foot = $257/Sq Ft

40 Southeast Calgary condos sold on the Calgary MLS® System in December 2012 (39.7% more SE condo sales than same period last year)

  • Avg sale price of $271,011 (1.2% higher than same period last year)
  • Median sale price of $255,500 (4.7% lower than same period last year)
  • Avg days on market (DOM) for SE Calgary condo sales = 54 days
  • December Sale Price to List Price ratio for SE Calgary condos = 97.32%
  • Average Sale Price per Square Foot = $251/Sq Ft
  • Median Sale Price per Square Foot = $247/Sq Ft

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.

2 Responses to "Calgary Real Estate Report: December 2012"

Lenora wrote: We love your website, especially your listing's price per square foot. Where can we find what homes sold for recently in Aspen Woods & Springbank hills?

Posted on Friday, January 4th, 2013 at 4:24pm.

Jim Sparrow wrote: @Lenora - The Calgary Real Estate Board (CREB) prohibits REALTORS from displaying sale prices for individual properties on the internet. We'd be more than happy to send you all recent sales info for any area of Calgary you're interested in - please use the email link above to contact us directly.

Posted on Friday, January 4th, 2013 at 5:09pm.

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