Calgary home buyers continue to keep their foot on the pedal, with January sales up a sizeable 15% from the same month last year. Both single family home and condo sales rose by approximately the same percentage over last years number. This marks the twelfth consecutive month that Year over Year sales have increased. Calgary is one of the only major cities in the country to see an increase in sales this year.
Calgary Single Family Home Prices
Total sales of Calgary homes and condos in the metro area were 1,230 vs 1,069 last January, a 15.1% increase
- SF home sales @ 879 vs 763 last January
- Median SF sale price @ $435,500, up 10.3% over last January's $395,000
- Median SF sale price sets a new record for the month of January, 6% higher than the next highest January (2008)
- Average SF sale price @ $496,578, a 12.7% increase over last January's $440,478
- Average SF sale price sets a new January record, 8.9% higher than the next highest January (2008)
Calgary Condo Prices
Sales of Calgary condos were up 14.7% Y/Y:
- Condo sales @351 vs 306 last January
- Median condo sale price @ $262,000, a 6.9% increase over last January's $245,000
- Median condo sale price is still 10% lower than record highest for January (2008)
- Average condo sale price @ $297,157, a 10.2% increase over last January's $269,723
- Average condo sale price is still 4.6% lower than record highest for January (2008)
Calgary Listing Inventory
Inventory for Calgary real estate is still low, with 2.4 MOI *months of inventory* for Calgary homes and 2.9 MOI for Calgary condos. The low inventory is putting pressure on sale prices, as more people are competing on properties, moreso in the SF home market than the condo market. The balanced market for homes is on the verge of shifting to a sellers market now (where many properties sell quickly for list price or more).
Luxury Sales in Calgary
Sales of Calgary luxury homes and condos (million dollar-plus properties) reached 34 units in the month of January, an increase of 125% over last January's 16 sales. The market for higher end Calgary property has become far more active, a benefit of the city's healthy economy. 2012 saw a record number of Calgary metro homes and condos sell for one million-plus dollars, and it appears the growth in this market will only continue to increase.
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