February 1-21, 2013 Calgary Real Estate Market Update

Brace yourselves.  There’s a very real possibility that single family homes will reach a new peak for average and median prices this month.

Through three weeks the average & median price are sitting at $517,926 and $440,050 respectively.   The current average price record was set in July 2007 at $506,671 while the median peaked in June 2007 at $438,000.

Standing inventory is down -25.52% from last year and new listings coming on the market this month have lagged by -5.88% y/y.   Meanwhile sales are tracking 3.94% ahead of last February’s pace.

SFH Statistics

No doubt helping boost average prices are the 50 properties (47 SFH & 3 condos) that have sold for a million or more so far this month, blowing past all previous February month-end totals.

By way of comparison, in June 2007 there were 48 total luxury homes sold and in July 2007 there were 61.

One response to “February 1-21, 2013 Calgary Real Estate Market Update

  1. Do you think Teranet’s HPI and the MLS HPI will reflect the same price appreciation the average and median prices are showing us?

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