Calgary closes 2013 with 11% Sales Increase
(Calgary January 3, 2013) Despite near-record snowfall & bitterly cold weather, Calgary saw an 8.3% rise in Yr/Yr sales in December, the ninth consecutive month of sales volume increase. 2013 Calgary home & condominium sales topped last years number by 10.8%.
December sale prices rose in both the home and condo segments Calgary. The median sale price of a Calgary home rose 10.4% ($463,500), while the median sale price of a Calgary condo jumped 10.9% ($288,250) last month.
For the entire year, the median sale price of a Calgary home rose 7.1% ($450,000), while the median Calgary condo sale price increased 6.3% (284,900).
"Sales growth exceeded expectations in 2013, pushing above long-term trends" - Ann-Marie Lurie, CREB®'s Chief Economist
2013 was the second consecutive year for sales and price gains in Calgary, the result of high levels of migration, confidence in the long-term prospects of the economy and job availability. Elevated demand meant that for most of 2013, market conditions favoured sellers, with the average sale price a mere 2.2% under list price.
Calgary Real Estate Market Stats December 2013
Calgary's Seller's Real Estate Market Continues ....
- The Median Calgary House Sale Price was $463,500, up 10.4% from December 2012
- The Average Calgary house sale price was $527,763, up 6.2% from the same period last year
- The Median Calgary Condo sale price was $288,250, up 10.9% from the same period last year
- The Average Calgary condo sale price was $312,383, up 2.4% from December 2012
- Average Days on Market (DOM) was 39 Days for Calgary homes sold vs. 48 days last year. Average DOM for Calgary condo listings was 49 days vs. 61 days last December
- Calgary MLS® System sales for December 2013 totalled 1,172 properties, up 8.3% from last December *metro Calgary homes & condos combined*. 772 Calgary homes sold last month, 3.8% more than last December. 400 Calgary condos sold, 18.3% more than the same period last year *Sales reflect residential metro Calgary MLS® system sales only*
- Metro Calgary Real Estate listing Inventory is currently 1.9 months worth of supply, 16.6% fewer listings than the same time last year. Calgary home inventory is now 2.0 MOI *months of inventory* (vs. 2.5 MOI last Dec), while Calgary condo listing inventory is 1.8 MOI (vs. 2.6 MOI last Dec). Last month 50% of all Calgary homes & 55% of all condos listed on the Calgary MLS® System sold.
- Sales to new listing ratio was 119% (120% last December) for Calgary homes
- Sales to Active listing ratio was 51% (40% last December) for Calgary homes
- Sales to new listings ratio was 124% (130% last December) for Calgary condos
- Sales to Active listing ratio was 55% (39% last December) for Calgary condos
- The Calgary real estate market continues to favour the seller (Seller's market). Continued growth in migration fuels competition for the limited supply of available property, a reflection of the strong economic growth being experienced in the city of Calgary
- The robust condo market has been supported by lower entry-point prices, as well as their attraction to investors as condo prices in Calgary have yet to recover to previous highs
Calgary Luxury Property Sales
38 Calgary million-dollar plus homes & condos sold last month, bringing the total for the year to a record 727 sales (34% higher than the previous year's total of 544 sales).
Three properties sold for more than $2-million, with a Hillhurst home on 16th Street NW recording the highest sale price of $2,125,000. An apartment-style Le Germain condo in Downtown Calgary had the highest condo sale price @ $1,860,000
SW Calgary Sales Stats
The SW quadrant of the city saw a decrease in home sales (-4.3%) vs a 9.7% increase in condo sales. Conversely, SW home prices were up while SW condo prices saw a marginal drop in price.
Combined southwest Calgary residential sales rose 2.3% in December 2013. The median sale price of a southwest home was up 7.2% year-over-year, while the uncorrected median sale price for a SW condo decreased 0.8% vs. the same period last year.
Click the graphic below for the complete story on southwest Calgary sales, as well as a summary of 4th quarter 2013 stats .....
NW Calgary Sales Stats
Northwest Calgary saw a 15.2% increase in sales volume for the residential segment of the market *NW homes and condos combined*.
Uncorrected sale prices for NW Calgary single-family homes jumped 12.0% in December 2013 *Median sale price*. The median sale price for apartment-style condominiums and townhouses increased 11.2% vs. the same period in 2012. Uncorrected Calgary condo prices for most of the city still lag the peak levels seen in mid-2007.
Click the graphic below for the complete story on northwest Calgary sales, as well as a summary of 4th quarter 2013 stats .....
SE Calgary Sales Stats
Southeast Calgary saw residential sales volume climb 7.5% Yr/Yr *SE homes and condos combined*.
The December 2013 uncorrected sale price for SE single-family homes increased 10.3% *Median sale price*. The median sale price for apartment-style condominiums and townhouses rose 6.9% vs. the same period last year.
Click the graphic below for the complete story on southeast Calgary sales, as well as a summary of 4th quarter 2013 stats .....
CREB® Industry Update
Calgary Real Estate Board Chief Economist Ann-Marie Lurie and outgoing President Becky Walters discuss market trends in Calgary residential real estate for December 2013
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