This marks the 6th consecutive month Calgary home sales have exceeded last years results, as the Board sales for the Calgary metro area are poised to finish about 20% higher than results from last September.
Monthly sales have surpassed 2012 numbers for every month this year with the exception of February and March, which only missed matching last years figures by a couple of percentage points.
2013 year-to-date sales were ahead of 2012 numbers by 1.6% after the first quarter, 4.5% higher after the second quarter of the year, and projected 3rd quarter totals are just under 10% higher than last year.
Calgary Metro Board MLS® Sales: Year-to-date 2013
Sales of Calgary homes and condos are higher than they've been in six years, with year-to-date totals reaching 18,573 as of midnight September 28th. 2007 was the most recent year to have more sales at this point in September. 2013 sales are nearly 10% higher than last year at the same time.
Average Calgary Home Price: Single Family Year-to-Date
The average price of a Calgary home is now well over $500,000, levels never seen before. Year-to-date the average Calgary home sale price is $517,664 (YTD), 8.1% higher than the same time last year. The strong local economy combined with a post-flood surge in demand have resulted in extremely low listing inventory levels. Currently there are just over 4,000 homes & condos listed in the metro area, 20% lower than the same time a year ago. The number of single family home listings are down about 16% from 2012. Calgary home inventory is just over 2 months of supply for the current level of demand. Single family home sales should reach 1,355 properties for metro Calgary in September. Home & condo owners aren't interested in selling properties, which has caused sale prices to increase.
Average Calgary Condo Price: Condominium Year-to-Date
The average price of a Calgary condo is now $315,494 (YTD). Average condo prices haven't been at this level since 2007. Metro Calgary condo listing inventory is now 26% below what was available last year at the end of September. There are just over 2 months of active condo listings available for the current level of demand (metro condo sales for Calgary should total +/- 575 units for September 2013).
Calgary Luxury Sales: Million Dollar Property sales in metro Calgary
There have been more Calgary luxury homes & condos sold in 2013 than in any previous year, by quite a margin (YTD). 580 homes & condos have sold for a million dollars or more as of September 28th, 42% higher than 2012 and 49% higher than in 2007. Million dollar plus sales now account for 3.1% of the total sales of Calgary metro property, versus 2.4% of total sales in 2012 and 1.8% of total sales in 2007. Overwhelmingly this is due to the confidence Calgarians have in the local economy and the value of property in the city, which remains substantially lower than similar high-end properties in the Vancouver and Toronto markets.
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