January 1-14, 2012 Calgary Real Estate Update

Single family home sales for the opening 2 weeks of 2012 have been somewhat  of a laggard, down -11% from the same time period last year and off -25% from the average of the previous 10 years.  With a total of 249 sales, it surpasses only 2009’s fourteen day tally.

Condominium sales on the other hand are up almost +13% year-over-year, with 98 transactions.  However, that’s still trailing -17% behind the 10-year average.

With banks offering record low fixed rates of 2.99%, we’ll see how much of an impetus this will have on buyers in the coming weeks ahead as the real estate market also shakes off the holiday season doldrums.

(click to enlarge image)

 

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