March 1-28, 2012 Calgary Real Estate Update

Calgary single family home sales & prices are poised to show a respectable increase over last March.  In the first four weeks of March, 1408 homes have sold.  That’s an increase of 16.08% from last year and has already eclipsed last March’s month-end total of 1344.

Prices are showing gains as well. The average price has increased +2.76%, from $458,682 to $471,352.  The median price has grown 3.5% from $396,000 to $410,000.

The past week has seen an improvement in new listings, although they’re still down 5% (read more at Bob’s Blog)

(click to enlarge image)

If mortgage applications are any indication, there seems to be a lot more activity to come this spring. Yesterday mortgage brokers were reporting technical problems with Expert, their industry’s main mortgage origination platform due to “abnormally high application volume.”

In related news, CIBC, RBC and TD raised their discounted 5-yr fixed rates by 20 basis points and their 5-yr variable by 10 basis points.

For much more Calgary real estate statistics including Condo figures, visit my webpage.

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