Calgary real estate report for November, 2013 is positive, after five straight months of increases.
Here are some of the highlights:
- Residential sales up 19% from November 2012, with sales totalling 1,730 units
- Year-to-date sales total 22,322 units
- 1,823 new listings in November remains 12% higher than the same time last year
- The benchmark price for single-family homes was $470,600 compared to $433,600 in 2012
- The benchmark price for condos was $279,600, compared to $248,000 in 2012
Home prices are on the rise and it's possible that new home buyers are getting off the fence and taking the step towards purchasing, especially while lending rates are favourable.
CREB® President Becky Walters suggests, “Many first-time home buyers appear to be moving now to get ahead of any further increases in home prices, rent hikes, or an increase in lending rates,” she said. “And current owners are taking advantage of the recent price gains to upgrade to a home that better fits their lifestyle.”
Chief Economist, Ann-Marie Lurie maintains, “despite recent gains, Calgary’s housing market is still more affordable today than it was six years ago."
Calgary Long Term Housing Trends
Reported by CREB® Calgary Regional Housing Market Statistics
Ryan & Sheri MacDonald are Real Estate Professionals with the Calgary Home Team in Calgary, Alberta.
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