Calgary Real Estate Update: November 25

(Calgary - November 2013): Calgary residential property sales climbed 14% in the first 24 days of November *versus the same period in 2012*.

Despite the seasonal slowdown in the market - associated with colder weather and the upcoming holidays - the Calgary Board's MLS® System recorded combined metro sales of 1,349 properties month-to-date *MTD*.

Calgary homes accounted for most of the increase in sales, with single family home sales seeing a 17% increase month-to-date *MTD* over 2012. Calgary condo sales rose 8% over last year. The median sale price of both Calgary homes and condos rose by 9%  *MTD*.

To paraphrase CREB's chief economist Ann-Marie Lurie:

Price growth is related to stronger than

Calgary Homes Market Update

(Calgary - November 18): Residential property sales in Calgary continue to be robust, with home and condo sales November 1st through 18th eclipsing the same period last year by 22%.

Despite the recent snowfalls, demand for property in Calgary continues to be the strongest seen in November since 2006. Year-to-date residential sales are 10.7% higher than the same period last year.

Calgary properties continues to sell more quickly than last year, with an average days on market (DOM) of 37 days versus 48 days last November.

Calgary Home Sales

There are currently 2,521 Calgary homes listed for sale on the Calgary Board MLS® system *metro Calgary*, which represents 2.1 months of home inventory.

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(Calgary - November 2013): Here's a timely tip from Calgary lawyer Lou Pesta that both buyers & sellers of property should take note of. It applies to not only Canada but to real estate transactions everywhere.

The way the Christmas and New Year's Holidays are scheduled this year many law firms (including ours) will either be closed entirely or will operate with only skeleton staffing between December 20th and January 6th.

In addition, the Alberta Land Titles Office and major banks in the city of Calgary will be closed a number of days between Christmas and the New Year.

As a result it will be extremely difficult to close Calgary real estate transactions falling within this time frame and I urge you to schedule your closings accordingly.