May 1-28, 2012 Calgary Real Estate Update

The long-awaited resurgence of the Calgary-housing market appears to have
been launched in recent months,” writes RBC in their latest Housing Trends and Affordability report released today.  “Homebuyers in the Calgary area are motivated by a booming provincial economy, strong job creation, and attractive housing affordability…We expect the market resurgence to continue for the remainder of this year.

While the report covers Q1 activity with a mention of April sales, this resurgence has obviously carried into the current month.

Through four weeks of May, Calgary home sales are up 26.52% over last year with 1503.

Calgary SFH Sales

Prices in April were up a paltry 0.77% year-over-year, but it looks like it’s getting some traction this month.  The average price is currently up 3.12% to $503,694  and on track to set a record for the month of May –  falling just short of the all-time record set in summer of 2007.  The median is up 3.57% y/y to $435,000.

Single Family Home Prices

The upper-end market continues to perform strongly with 67 single family homes selling for a million dollars or more, far above previous levels seen in May.

Million Dollar+ Sales


For more information and statistics including condominium average and median prices, please visit:

FindCalgary

Questions? Ready to buy or sell real estate? I can be contacted at mike@findcalgary.com or 403-554-2284

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