Sneak Peek Of The Week Ahead

There will be a lot of information coming out in the next few days so here’s a sneak peek at the headlines and news.  You read it here first:

  • Calgary single family homes (SFH) will set an all-time record high in average prices in February, easily eclipsing the previous record of  $506,671 set in July 2007.  The average price is currently $519,815 with one day left.
  • SFH sales will fall short of year ago levels.  Some may partly attribute this to the extra week day in Feb 2012.  Sales are currently up 1.57%, but will need 120 more to sell today to just match last year’s total.
  • If/when SFH sales fall below last February’s total, it will break a string of 12 consecutive months where sales were up on a year-over-year basis.
  • Condo-Apartments will experience an entirely different outcome this month.  Sales have already surpassed Feb 2012 levels, but average prices might see a slight decline (currently -1.64%)
  • Luxury home sales have set a new February record with 59 selling for over $1M month-to-date (MTD).  The previous February high was set last year with 42.
  • Yesterday’s Aspen Woods sale of $10.35M is the most expensive home ever sold on MLS in Calgary.   That sale alone bumped the average price up $8,474 overnight (using MTD statistics)
  • Airdrie single family sales are down -26.25% with only 1 day left.  Since Feb 2012 had an extra week day. that stat is going to get uglier.  The good news? Average price is up over $25,000 MTD while the median is up $29,750 y/y.

Check back over the next few days as month-end statistics are posted for Calgary, Airdrie and Chestermere.

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