October 1-14, 2012 Calgary Real Estate Update

When CREA releases the nationwide September figures later today, you’ll be reading a lot of “with the exception of Calgary”  when economists speak of softening sales across Canada.

You’ll likely be reading the same next month as Calgary sales continue to post year-over-year gains as we approach the midway point of October.

Between October 1-14, single family home sales are up +9% from a year ago.   Average prices are up +5.44% from $461,206 to $486,292.   The median price is up +7.34% from $399,200 to $428,500.

Inventory continues to remain a little scarce as MTD new listings are down -8% y/y.

SFH Sales (click to enlarge image)

Condo sales are currently up +25% in the first two weeks of October.  The average  price has increased +11% to $309,392, and the median is up +9% to $279,750 from $256,000.

Condo Sales (click to enlarge image)

As we examined yesterday, the new CMHC cap on million dollar homes hasn’t had an impact on the luxury market yet.

So far in October, 24 homes (22 SFH & 2 condos) have sold for $1M or more compared to 17 last year.

A downtown condo now holds the highest sold price for the month, selling for $2,850,000. The Le Germain Residences unit was listed by Karen Hagg with Royal Lepage Foothills. To view photos, click here

At $2.85M, it is the 5th highest condo sold on MLS in Calgary.

For more statistics or to browse homes listed for sale, please visit my website at:

FindCalgary

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

2 responses to “October 1-14, 2012 Calgary Real Estate Update

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