April 2013 Calgary Real Estate Market Report

Download CREB’s April 2013 Housing Report: (click here

New Record High Price

The benchmark price of single- family homes reached a new high of $452,900 in April, as market conditions that favour the seller finally drove prices above the unadjusted peak in 2007.

Also for the first time since 2007, conditions favour the seller.  However, economic conditions today are vastly different, making it unlikely that Calgary will see a repeat of those conditions, said CREB’s economist, Ann-Marie Lurie. Our economy faces some challenges this year, and consumers still have options in both the new home market and surrounding towns, all factors that will temper price growth.

Single Family Homes
Year-over-Year Comparison, April 2012 in brackets

  • Sales increased 1.96% to 1,611 (1,580)
  • Average price was up 5.75% to $510,834 ($483,045)
  • Median price increased to $449,900 ($421,500)
  • Active listings were down -14.97% to 2,977  (3,501)
  • New listings increased 5.43% to 2,408 (2,284)
  • Days on market:  31 (38)
  • Inventory Absorption Rate:  1.9

Condominium – Apartments

Unlike the single-family sector, however, condo apartment prices remain well below unadjusted highs recorded in 2007.

  • Sales increased 22.22% to 429 (351)
  • Average price increased 8.74% to $291,345 ($267,931)
  • Median price increased to $255,500 ($245,000)
  • Active Listings were down -24.72% to 871 (1,157)
  • New listings were up 3.19% to 614 (595)
  • Days on market: 41 (50)
  • Inventory Absorption Rate:  2

Condominiums – Townhomes

  • Sales were up 27.24% to 341 (268)
  • Average price was up 5.15% to $337,119 ($320,607)
  • Median price decreased to $296,000 ($299,324)
  • Active Listings were down -15.36% to 518 (612)
  • New listings increased 26.11% to 454 (360)
  • Days on market: 36 (49)
  • Inventory Absorption Rate: 1.5

For more statistics 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

Please feel free to post your comment or question

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s