Calgary Market Report - January 2013
Posted by Calgary Home Team on Friday, February 22nd, 2013 at 4:14pm.
Improved sales and prices in all housing types in Calgary!!
A good start for Calgary housing market in 2013 as total residential sales increased by a significant 15% to reach 1,230 sold units in January, compared to 1,068 during the same month last year!
"Recent improvements in single family new listings helped support improved sales in that market,” said CREB® President Becky Walters. With 879 sold single family homes, January 2013 sales that increased by 15% from last year's level, were supported by slight gain in new listings that reached 1,737 in the first month of the year!
While this improvement in new listings has gives the buyers a better choice when looking for a house in Calgary, it is advised that they still need to act quickly as inventory levels remain down by double digits, according to CREB's report!
The single family home average price of $496,579, and benchmark price of $436,900 in January 2013 remained close to December 2012 levels, but increased by 13% and 9% respectively over January 2012 figures!
In the townhouse and apartment condo sectors, sales improved as well despite the decrease in the number of the new listings entering the market.
Townhouse condo sales reached 147 in January this year, up 17% over January 2012.
306 new listings were available for buyers in the first month of 2013, down 2% from the same period last year!
The average sold price for the townhouse condos was $320,590 in January 2013, up 8% from January 2012.
The benchmark price for the townhouse condos was $283,400 in January 2013, also up by 5% from last year!
The oversupply of condo apartments in the past several years that exceeded the local demand has made it difficult for this sector to recover quickly! There was an increase in prices, resulted from combined factors that mainly include the lower levels of new listings, and improved sales growth!
January 2013 saw 204 apartment sales in Calgary! While lower than the previous month of December 2012 where sales reached 253, it was 14% up from January 2012 that reported 179 apartment sales!
Number of new listings declined to 450 in January this year, 11% down from the 504 in the same month last year!
The average sold price for the condo apartments in Calgary for January 2013 was $280,273, compared to $247,837 in January last year, this is a 13% increase!
The benchmark price that rose to $251,300, was also up by 7% from the $233,800 in January 2012!
When you're ready to buy or sell a home in Calgary, we are your real estate agents of choice. Be sure to use our quick and easy search feature. We're the experts, and we're here to help you! For more information on how we can help you achieve your real estate goals please contact Calgary Home Team via email or directly @ 403-519-9102.
Be the first to comment on this blog entry!