I’m away on vacation this week but I wanted to keep you (and myself) updated. So before my wife wakes up (I promised to keep work to a minimum, hehe) , here’s a quick look at how the Calgary market has been performing 3 weeks into the month and year.
Single family sales are up 5.48% from last year during the same time period, with new listings lagging a slight -1.47%. But considering that the month started with inventory down ~30% from last January, we have the makings of a tight Spring market for Calgary buyers that thus far seem to be unaffected by any mortgage rule changes like the rest of the country. The average price is currently up 14.82% y/y while the median is up 10.59%.
Sixteen homes have sold for $1M or more which matches last January’s month-end total but we are a long ways off the January 2007 peak of 36
Overall condo sales are up, but the condo-apartment segment is trailing by 4 sales (-3.48%) but again, that’s offset with the even greater reduction of new listings (-10%) The average price is up 8.79% and the median is up 7.24%
Townhomes sales are up 27.14% while new listings are down -11.47%. Despite those numbers, the average price is up only 1.42% while the median is showing the only price decline of all the segments at this time: -1.14%
If you’re sending me any emails or requests for sold prices during the next week, please be patient with me. I’ll try to answer them as soon as possible 🙂