October 1-14, 2013 Calgary Real Estate Market Update

Single family home sales this month are 23% ahead of the previous 10 year average.

New listings in the city are up a meager 1.82% y/y which is hardly enough to offset either the increase in sales or the -22.7% drop in active listings.   The sales-to-new-listings ratio is at 75.5% signalling we’re still firmly in a seller’s market.  As a result the average price has been pushed up 6% and the median 7% y/y.

Last October marked the beginning of a string of monthly records for luxury sales.  Going forward, the y/y comparison for high-end transactions should be close and will help with the average price skewing that we have been seeing of late.

For example, month-to-date there have been a total of 26 homes that have sold for $1M or more.   Last year during the first two weeks of October there were 24 sales.    Compare that to:

  • 2011:  17 sales
  • 2010:  9 sales
  • 2009 : 7 sales
(click to enlarge)

(click to enlarge)

Full Weekly Statistics, Y/Y Comparison (click to enlarge)

Full Weekly Statistics, Y/Y Comparison (click to enlarge)

 

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