Calgary Condo Prices Surging? (June 1-19, 2012)

Taking a peak at the daily statistics it would appear that apt-style condominiums in Calgary are experiencing a price surge.

The MTD average price is up $30,362 or $11.35%  from last June to $297,915.  It’s also up 6.4% from last month’s average of $280,029.

(click to enlarge image)

What’s the main reason behind this increase?  Two units in Eau Claire sold for $1.6M+ while another unit downtown sold for $1,215,000.  (click to view)

With only 211 sales so far this month  (even fewer than the 215 last June during the same period) those 3 pricey sales skew the average price.  Especially so since last June didn’t see any million dollar sales between the first and nineteenth.

If we were to remove those 3 luxury sales, the MTD average would be $280,553, essentially flat from last month but up nearly 5% y/y during the same time period.  Note:  June 2011 month-end average price was $275,903

Median Prices

June 1-19, 2012:  $262,000
May 2012: $252,750
June 1-19, 2011:  $252,000
June 2011:  $253,000

For daily statistics, 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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