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November 2013 Market Stats for Calgary Real Estate

Posted by Jim Sparrow on Sunday, December 1st, 2013 at 11:56am.

Calgary Sales Increase 19%

Calgary real estate stats: November 2013

(December 1, 2013) Calgary residential property sales continued to outperform other markets in the country with a 19% increase in homes and condos sold in November.

Last month marked the 8th consecutive month with a year-over-year sale increase, with the highest number of November sales recorded in seven years *November 2006 had 15% more sales (1,995)*.

February & March have been the only months this year that Yr/Yr sales haven't increased, with both those months seeing only low single-digit differences.

Prices in both the Calgary home and condo segments were up 8% (median sale price vs November 2012). 

According to The Bank of Montreal, Calgary has the strongest major residential housing market in the country. BMO's senior economist Sal Guatieri attributes this to the extremely low level of listings currently available in Calgary:"Three main factors: Strong economy, Strong population growth, Good affordability. Those are all driving Calgary's housing market now and likely in the future."

Year-to-date sales for the city are the highest recorded in six years. The boom market we experienced in 2005 - 2007 saw 13-15% more sales YTD versus 2013. Calgary's median family income is tops in Canada at $100,500, 37% higher than the next closest major Canadian city (Montreal). Even with the price gains seen over the past 24 months, mortgage costs on a median benchmark Calgary home is only about 4 times the median family income.

Calgary Real Estate Market Stats November 2013

Calgary's Seller's Real Estate Market Continues ....
  • For the month of November 2013 the Average Calgary House Price was $516,446, up 6% from November 2012. The median Calgary house price for November 2013 was $455,000, up 8% from the same period last year
  • The Average Calgary Condo sale price last month was $326,912, up 5% from the same period last year. The median Calgary condo sale price last month was $297,500, up 8% from November 2012
  • November 2013 Average Days on Market (DOM) was 39 Days for Calgary home listings sold, vs. 48 days last year. The average DOM for Calgary condo listings sold was 40 days,  vs. 54 days last November
  • Calgary MLS® System sales for November 2013 totalled 1,730 properties, a 19% increase from last November *metro Calgary homes & condos combined*. 1,197 Calgary homes sold last month, 19% more than last November. 533 Calgary condos sold, 18% more than the same period last year *metro Calgary MLS® system sales only*. Sales in November were the highest recorded since 2006, when there were 1,995 sales
  • Combined Metro Calgary Real Estate listing Inventory is currently 1.8 months worth of supply, 16% fewer listings than the same time last year. Calgary home & condo inventory are both currently 1.8 MOI *months of inventory* - 55% of all Calgary homes listed on the Calgary MLS® System sold last month, while 54% of all condos listed sold
  • Sales to New Listings ratio was 97% for Calgary home listings (vs. 87% last year), while the Condo Sales:New Listing ratio was 89% (vs. 95% last year)
  • Year-to-date (YTD) residential sales in Calgary now 22,339, 12% higher than 2012, and the highest recorded since 2007 (25,396, 14% higher)

Calgary Luxury Property Sales

There were 50 Calgary luxury property sales - homes & condos selling for one-million dollars or more - recorded last month in Calgary, eclipsing 2012's 48 sales and setting a new all-time record for November. Year-to-date luxury sales in Calgary are 36% higher than the record set last year, with million-dollar-plus home sales up 32%, while luxury condos have sold more than double 2012's number.

Eight homes sold for more than $2-million, with a Bayview home on Bay Shore RD SW recording the highest sale price of $2,700,000. A bareland condo in Springbank Hill had the highest condo sale price @ $1,340,000

SW Calgary Sales Stats

The SW quadrant of the city continues to show increased sales volume and price gains in both the residential single family and condo segments. 

Southwest Calgary residential sales rose 9.3% in November 2013. The median sale price of a southwest home was up 6.7% year-over-year, while the uncorrected median sale price for a SW condo increased 6.7% vs. the same period last year.

Click the graphic below for the complete story .....

Southwest Calgary real estate sales stats 

NW Calgary Sales Stats

Northwest Calgary saw a 17% 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 7.0% in November 2013 *Median sale price*. The median sale price for apartment-style condominiums and townhouses increased 12.4% vs. the same period in 2012. Uncorrected Calgary condo prices still lag the peak levels seen in mid-2007.

Click the graphic below for the complete story .....

Northwest Calgary real estate sales stats

SE Calgary Sales Stats

Southeast Calgary had a massive 36.1% jump in residential sales volume *SE homes and condos combined*

The November 2013 uncorrected sale price for SE single-family homes increased 10.6% *Median sale price*. The median sale price for apartment-style condominiums and townhouses rose 1.3% vs. the same period last year. 

Click the graphic below for the complete story .....

Southeast Calgary real estate sales stats

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.

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